Brokerages Set Core Scientific, Inc. (NASDAQ:CORZ) PT at $18.38

Shares of Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) have been assigned an average rating of "Buy" from the fourteen analysts that are covering the company, MarketBeat reports. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.38.

Several brokerages have recently issued reports on CORZ. B. Riley upped their target price on shares of Core Scientific from $16.00 to $17.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on Core Scientific in a research note on Monday, October 28th. They issued a "buy" rating and a $19.00 target price on the stock. Sanford C. Bernstein restated an "outperform" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, September 10th. Cantor Fitzgerald restated an "overweight" rating and set a $20.00 target price on shares of Core Scientific in a research report on Thursday, October 3rd. Finally, BTIG Research upped 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.

Insider Transactions at Core Scientific

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Core Scientific during the second quarter valued at approximately $1,792,000. Silverleafe Capital Partners LLC acquired a new stake in shares of Core Scientific during the 2nd quarter valued at approximately $158,000. Calamos Advisors LLC bought a new position in Core Scientific during the second quarter worth $294,000. Bank of New York Mellon Corp boosted its holdings in Core Scientific by 3,236.0% in the second quarter. Bank of New York Mellon Corp now owns 674,043 shares of the company's stock worth $6,269,000 after purchasing an additional 653,838 shares during the period. Finally, Legato Capital Management LLC bought a new stake in Core Scientific during the second quarter valued at $329,000.

Core Scientific Price Performance

Shares of Core Scientific stock traded up $0.01 during trading on Friday, hitting $15.55. 6,360,366 shares of the stock were exchanged, compared to its average volume of 9,054,852. The stock has a market cap of $4.34 billion and a price-to-earnings ratio of -2.87. The firm's 50-day moving average price is $15.08 and its 200 day moving average price is $11.71. Core Scientific has a 12-month low of $2.61 and a 12-month high of $18.63.

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.