Core Scientific, Inc. (NASDAQ:CORZ) Receives Average Recommendation of “Buy” from Analysts

Core Scientific, Inc. (NASDAQ:CORZ) has received a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Thirteen research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.38.

A number of analysts have recently commented on CORZ shares. Macquarie boosted their price target on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Jefferies Financial Group began coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective on the stock. Roth Capital upgraded Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. B. Riley raised their price objective on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, BTIG Research boosted their price target on Core Scientific from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

Core Scientific Stock Up 3.9 %

Shares of NASDAQ:CORZ opened at $18.23 on Tuesday. Core Scientific has a 52 week low of $2.61 and a 52 week high of $18.35. The company’s fifty day moving average is $13.67 and its 200 day moving average is $10.32. The stock has a market cap of $5.09 billion and a PE ratio of -3.37.

Insider Buying and Selling

In other news, Director Jarrod M. Patten purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average price of $9.70 per share, with a total value of $38,800.00. Following the purchase, the director now directly owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. This represents a 1.45 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the completion of the sale, the director now owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. This trade represents a 23.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 12,761 shares of company stock worth $127,080. 32.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CORZ. Neo Ivy Capital Management acquired a new position in Core Scientific during the third quarter valued at $194,000. Geode Capital Management LLC increased its position in Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after purchasing an additional 1,113,285 shares during the last quarter. Sender Co & Partners Inc. purchased a new stake in shares of Core Scientific during the 3rd quarter worth about $2,426,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Core Scientific during the 3rd quarter valued at about $1,459,000. Finally, Anson Funds Management LP acquired a new stake in shares of Core Scientific during the 3rd quarter valued at about $3,641,000.

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.