Core Scientific (NASDAQ:CORZ) Price Target Raised to $19.00

Core Scientific (NASDAQ:CORZ - Get Free Report) had its price objective lifted by BTIG Research from $15.00 to $19.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price target would suggest a potential upside of 20.03% from the stock's current price.

Several other research firms have also commented on CORZ. Macquarie boosted their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the stock an "outperform" rating in a research note on Thursday. HC Wainwright upped 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. Canaccord Genuity Group reissued a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Core Scientific has a consensus rating of "Buy" and an average price target of $18.38.

Core Scientific Stock Performance

CORZ traded up $0.39 on Friday, hitting $15.83. The company had a trading volume of 7,901,672 shares, compared to its average volume of 8,891,639. The stock has a market capitalization of $4.42 billion and a price-to-earnings ratio of -2.93. The stock has a fifty day moving average price of $12.99 and a 200-day moving average price of $9.84. Core Scientific has a 12-month low of $2.61 and a 12-month high of $18.03.

Insider Transactions at Core Scientific

In related news, Director Jarrod M. Patten acquired 5,021 shares of the stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the transaction, the director now owns 285,760 shares in the company, valued at approximately $2,766,156.80. This trade represents a 1.79 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 12,761 shares of company stock worth $127,080 over the last 90 days. 32.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Core Scientific

Several institutional investors have recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new position in Core Scientific in the 3rd quarter worth about $106,266,000. Vanguard Group Inc. acquired a new position in shares of Core Scientific during the 1st quarter worth approximately $21,973,000. Rush Island Management LP purchased a new position in shares of Core Scientific during the 3rd quarter valued at approximately $32,221,000. Kensico Capital Management Corp acquired a new stake in Core Scientific in the 1st quarter valued at $18,513,000. Finally, Taconic Capital Advisors LP increased its holdings in Core Scientific by 178.7% in the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company's stock worth $32,229,000 after acquiring an additional 1,742,462 shares in the last quarter.

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.