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

Shares of Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) have been assigned a consensus rating of "Buy" from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $18.38.

A number of equities research analysts have recently commented on the stock. Macquarie upped their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. HC Wainwright upped their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Sanford C. Bernstein restated an "outperform" rating and set a $17.00 price target on shares of Core Scientific in a report on Tuesday, September 10th. Roth Mkm began coverage on shares of Core Scientific in a report on Friday. They set a "buy" rating and a $25.50 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a "buy" rating and a $19.00 price target for the company.

Core Scientific Trading Up 5.6 %

CORZ traded up $0.87 during trading on Tuesday, reaching $16.47. 10,205,237 shares of the company's stock were exchanged, compared to its average volume of 8,891,002. Core Scientific has a one year low of $2.61 and a one year high of $18.03. The stock has a market capitalization of $4.60 billion and a PE ratio of -3.04. The firm has a fifty day moving average price of $13.11 and a two-hundred day moving average price of $10.03.

Insiders Place Their Bets

In other news, Director Jarrod M. Patten bought 4,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average cost of $9.70 per share, for a total transaction of $38,800.00. Following the acquisition, the director now directly owns 279,239 shares of the company's stock, valued at $2,708,618.30. The trade was a 1.45 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased 12,761 shares of company stock valued at $127,080 in the last three months.

Hedge Funds Weigh In On Core Scientific

Several hedge funds and other institutional investors have recently made changes to their positions in CORZ. Banque Cantonale Vaudoise acquired a new position in shares of Core Scientific in the second quarter valued at approximately $28,000. Aspect Partners LLC purchased a new stake in shares of Core Scientific in the first quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new stake in shares of Core Scientific in the second quarter valued at approximately $33,000. Rise Advisors LLC purchased a new stake in shares of Core Scientific in the second quarter valued at approximately $65,000. Finally, Divisadero Street Capital Management LP purchased a new stake in shares of Core Scientific in the second quarter valued at approximately $93,000.

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.