Core Scientific (NASDAQ:CORZ) Price Target Raised to $20.00

Core Scientific (NASDAQ:CORZ - Free Report) had its target price increased by BTIG Research from $19.00 to $20.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on the company. Macquarie boosted their target price on Core Scientific from $16.00 to $19.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. Roth Capital raised Core Scientific to a "strong-buy" rating in a report on Thursday, November 14th. HC Wainwright upped their price target on Core Scientific from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. B. Riley increased their price objective on Core Scientific from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $20.00 target price on shares of Core Scientific in a research report on Thursday, October 3rd. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Core Scientific currently has an average rating of "Buy" and an average target price of $18.46.

Core Scientific Stock Performance

Shares of NASDAQ CORZ traded up $1.01 during trading hours on Monday, hitting $16.56. The stock had a trading volume of 12,047,546 shares, compared to its average volume of 9,066,648. The firm's 50-day moving average price is $15.08 and its two-hundred day moving average price is $11.75. Core Scientific has a 52 week low of $2.61 and a 52 week high of $18.63. The company has a market capitalization of $4.62 billion and a P/E ratio of -3.02.

Insiders Place Their Bets

In related news, insider Todd M. Duchene sold 25,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the completion of the sale, the insider now directly owns 1,661,474 shares of the company's stock, valued at $28,411,205.40. This trade represents a 1.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yadin Rozov sold 105,000 shares of the firm's stock in a transaction dated 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 sale, the director now owns 345,239 shares of the company's stock, valued at $6,252,278.29. The trade was a 23.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 32.00% of the company's stock.

Institutional Investors Weigh In On Core Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in shares of Core Scientific in the 2nd quarter valued at about $28,000. Sunbelt Securities Inc. acquired a new stake in shares of Core Scientific during the second quarter worth $33,000. Divisadero Street Capital Management LP bought a new stake in Core Scientific in the second quarter valued at about $93,000. Rise Advisors LLC boosted its holdings in Core Scientific by 14.3% during the third quarter. Rise Advisors LLC now owns 8,000 shares of the company's stock worth $95,000 after buying an additional 1,000 shares during the last quarter. Finally, Xponance Inc. acquired a new position in shares of Core Scientific during the 2nd quarter worth about $104,000.

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.