Analysts Set Core Scientific, Inc. (NASDAQ:CORZ) PT at $18.38

Core Scientific, Inc. (NASDAQ:CORZ) has been given a consensus recommendation of “Buy” by the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.46.

A number of equities research analysts have recently issued reports on the stock. Roth Mkm started coverage on shares of Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price target on the stock. Needham & Company LLC boosted their price objective on shares of Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a research note on Thursday, October 3rd. Sanford C. Bernstein restated an “outperform” rating and set a $17.00 target price on shares of Core Scientific in a report on Tuesday, September 10th. Finally, Jefferies Financial Group began coverage on shares of Core Scientific in a research report on Monday, October 28th. They issued a “buy” rating and a $19.00 price target on the stock.

Core Scientific Stock Down 9.9 %

NASDAQ:CORZ opened at $14.45 on Friday. The business’s 50-day moving average price is $15.24 and its 200 day moving average price is $11.91. Core Scientific has a 52-week low of $2.61 and a 52-week high of $18.63. The firm has a market cap of $4.04 billion and a P/E ratio of -2.67.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the completion of the transaction, the director now directly owns 345,239 shares in the company, valued at $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Todd M. Duchene sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the completion of the sale, the insider now directly owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Several institutional investors have recently added to or reduced their stakes in the stock. P Schoenfeld Asset Management LP acquired a new stake in shares of Core Scientific during the 2nd quarter worth approximately $4,185,000. Highland Peak Capital LLC increased its holdings in shares of Core Scientific by 37.9% during the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after acquiring an additional 113,584 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in Core Scientific during the third quarter worth $18,383,000. Van ECK Associates Corp boosted its position in shares of Core Scientific by 22.9% during the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after buying an additional 300,942 shares during the last quarter. Finally, DeepCurrents Investment Group LLC raised its holdings in shares of Core Scientific by 157.7% in the second quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock valued at $2,373,000 after purchasing an additional 156,162 shares during the last quarter.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.