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

Core Scientific, Inc. (NASDAQ:CORZ) has earned a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the firm, MarketBeat Ratings 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 12-month target price among analysts that have issued ratings on the stock in the last year is $18.46.

Several equities analysts have commented on CORZ shares. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a 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 report on Thursday, October 3rd. B. Riley increased their price target on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, HC Wainwright boosted their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Insider Activity

In other news, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the sale, the chief executive officer now directly owns 4,128,505 shares in the company, valued at approximately $58,789,911.20. The trade was a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Todd M. Duchene sold 129,861 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,849,220.64. Following the completion of the transaction, the insider now owns 2,051,649 shares of the company’s stock, valued at $29,215,481.76. The trade was a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 348,241 shares of company stock valued at $5,436,802. Insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Several institutional investors have recently made changes to their positions in CORZ. Sunbelt Securities Inc. bought a new position in Core Scientific during the second quarter worth about $33,000. Rise Advisors LLC raised its holdings in shares of Core Scientific by 14.3% in the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after buying an additional 1,000 shares in the last quarter. Divisadero Street Capital Management LP bought a new position in shares of Core Scientific during the 2nd quarter worth approximately $93,000. Arkadios Wealth Advisors bought a new position in shares of Core Scientific during the 3rd quarter worth approximately $119,000. Finally, Doliver Advisors LP acquired a new stake in Core Scientific in the 3rd quarter valued at $124,000.

Core Scientific Stock Down 6.6 %

CORZ stock opened at $14.12 on Wednesday. The firm has a 50 day moving average of $15.62 and a two-hundred day moving average of $12.51. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63. The company has a market capitalization of $3.94 billion and a price-to-earnings ratio of -2.61.

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.