BTIG Research Issues Positive Forecast for Core Scientific (NASDAQ:CORZ) Stock Price

Core Scientific (NASDAQ:CORZ) had its target price raised by BTIG Research from $15.00 to $19.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

CORZ has been the subject of a number of other research reports. B. Riley lifted their target price on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group assumed coverage on Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Tuesday, September 10th. Macquarie boosted their target price on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, HC Wainwright upped their price target on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $18.38.

Core Scientific Price Performance

Shares of NASDAQ CORZ traded up $0.39 during mid-day trading on Friday, hitting $15.83. The company’s stock had a trading volume of 7,901,672 shares, compared to its average volume of 8,891,639. Core Scientific has a one year low of $2.61 and a one year high of $18.03. The company’s fifty day simple moving average is $12.99 and its 200-day simple moving average is $9.84. The stock has a market cap of $4.42 billion and a price-to-earnings ratio of -2.93.

Insider Buying and Selling at Core Scientific

In other news, Director Jarrod M. Patten bought 4,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was purchased at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the acquisition, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. This trade represents a 1.45 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have purchased 12,761 shares of company stock valued at $127,080. 32.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CORZ. Blair William & Co. IL acquired a new stake in Core Scientific in the 1st quarter valued at approximately $1,156,000. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Core Scientific in the first quarter worth $122,000. Vanguard Group Inc. acquired a new position in Core Scientific during the first quarter worth $21,973,000. Vident Advisory LLC bought a new position in Core Scientific in the first quarter valued at $4,047,000. Finally, Anson Funds Management LP acquired a new stake in Core Scientific in the 1st quarter valued at $1,000,000.

Core Scientific Company Profile

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.