Brokerages Set Core Scientific, Inc. (NASDAQ:CORZ) Price Target at $18.46

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) has been given an average recommendation of "Buy" by the fourteen ratings firms that are currently covering the company, Marketbeat reports. Thirteen analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $18.46.

Several equities research analysts have recently weighed in on CORZ shares. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $17.00 price target on shares of Core Scientific in a research report on Tuesday, September 10th. HC Wainwright upped their target price on Core Scientific from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. BTIG Research lifted their price target on Core Scientific from $19.00 to $20.00 and gave the company a "buy" rating in a report on Monday, December 16th. Jefferies Financial Group began coverage on Core Scientific in a research note on Monday, October 28th. They set a "buy" rating and a $19.00 price objective for the company. Finally, Needham & Company LLC lifted their target price on Core Scientific from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, November 7th.

Insider Buying and Selling at Core Scientific

In related news, Director Yadin Rozov sold 105,000 shares of the firm's stock in a transaction on 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 transaction, the director now owns 345,239 shares of the company's stock, 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 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 transaction of $1,258,531.20. Following the completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 348,241 shares of company stock worth $5,436,802. 32.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CORZ. JPMorgan Chase & Co. grew its holdings in Core Scientific by 48.0% in the third quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company's stock valued at $5,192,000 after purchasing an additional 142,068 shares during the period. Sanctuary Advisors LLC grew its holdings in Core Scientific by 130.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,527 shares of the company's stock valued at $409,000 after buying an additional 19,522 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Core Scientific during the third quarter worth about $194,000. Geode Capital Management LLC increased its holdings in shares of Core Scientific by 26.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company's stock worth $62,594,000 after buying an additional 1,113,285 shares during the last quarter. Finally, Sender Co & Partners Inc. purchased a new stake in Core Scientific in the third quarter valued at $2,426,000.

Core Scientific Stock Down 0.5 %

Shares of CORZ stock traded down $0.07 on Wednesday, hitting $14.05. The stock had a trading volume of 7,942,430 shares, compared to its average volume of 9,765,390. Core Scientific has a one year low of $2.61 and a one year high of $18.63. The business has a 50 day moving average price of $15.62 and a 200 day moving average price of $12.55. The company has a market cap of $3.92 billion and a PE ratio of -2.60.

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.