Core Scientific (NASDAQ:CORZ) Price Target Cut to $20.00 by Analysts at Compass Point

Core Scientific (NASDAQ:CORZ) had its price target reduced by Compass Point from $26.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Compass Point’s price objective suggests a potential upside of 113.56% from the company’s previous close.

CORZ has been the topic of a number of other reports. B. Riley increased their price target 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 reissued a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. Craig Hallum initiated coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price target for the company. HC Wainwright increased their price target on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Core Scientific in a report on Friday, January 17th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific Trading Down 5.0 %

Core Scientific stock traded down $0.50 during mid-day trading on Tuesday, hitting $9.37. The company had a trading volume of 13,187,121 shares, compared to its average volume of 10,956,376. The company has a market capitalization of $2.62 billion and a price-to-earnings ratio of -1.73. Core Scientific has a 12-month low of $2.61 and a 12-month high of $18.63. The company’s fifty day moving average is $13.55 and its 200-day moving average is $13.30.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 25,277 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now owns 2,023,423 shares of the company’s stock, valued at approximately $32,860,389.52. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,258,531.20. Following the transaction, the chief executive officer now directly owns 4,128,505 shares in the company, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 614,032 shares of company stock worth $9,534,916. Corporate insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of CORZ. Creative Planning grew its holdings in shares of Core Scientific by 88.0% in the third quarter. Creative Planning now owns 32,925 shares of the company’s stock valued at $389,000 after purchasing an additional 15,413 shares during the period. Arkadios Wealth Advisors acquired a new position in Core Scientific in the 3rd quarter valued at about $119,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Core Scientific by 96.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 78,077 shares of the company’s stock valued at $926,000 after buying an additional 38,292 shares during the period. Van ECK Associates Corp increased its holdings in shares of Core Scientific by 22.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock worth $19,177,000 after buying an additional 300,942 shares during the last quarter. Finally, Harvest Portfolios Group Inc. raised its position in shares of Core Scientific by 10.1% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company’s stock valued at $663,000 after buying an additional 5,109 shares during the period.

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.