Shares of Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $18.63 and last traded at $17.12, with a volume of 13614323 shares. The stock had previously closed at $18.11.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on CORZ shares. Sanford C. Bernstein restated an "outperform" rating and issued a $17.00 target price on shares of Core Scientific in a report on Tuesday, September 10th. Roth Mkm started coverage on shares of Core Scientific in a research note on Friday, November 15th. They set a "buy" rating and a $25.50 price objective for the company. Canaccord Genuity Group began coverage on Core Scientific in a report on Monday, September 23rd. They set a "buy" rating and a $16.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $20.00 price target on shares of Core Scientific in a report on Thursday, October 3rd. Finally, Jefferies Financial Group started coverage on shares of Core Scientific in a research note on Monday, October 28th. They set a "buy" rating and a $19.00 price objective for the company. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of "Buy" and a consensus target price of $18.38.
Check Out Our Latest Stock Report on Core Scientific
Core Scientific Stock Performance
The business's fifty day simple moving average is $13.92 and its 200 day simple moving average is $10.62. The stock has a market cap of $4.95 billion and a price-to-earnings ratio of -3.22.
Insider Buying and Selling
In other news, Director Jarrod M. Patten purchased 5,021 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $9.68 per share, with a total value of $48,603.28. Following the transaction, the director now owns 285,760 shares in the company, valued at approximately $2,766,156.80. The trade was a 1.79 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction on 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 transaction, the director now directly owns 345,239 shares of the company's stock, valued at approximately $6,252,278.29. This represents a 23.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 8,761 shares of company stock worth $88,280. 32.00% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Core Scientific
Institutional investors and hedge funds have recently bought and sold shares of the business. Rise Advisors LLC raised its position in shares of Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company's stock worth $95,000 after purchasing an additional 1,000 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Core Scientific during the second quarter worth about $28,000. Sunbelt Securities Inc. acquired a new stake in shares of Core Scientific in the 2nd quarter worth about $33,000. Vontobel Holding Ltd. boosted its stake in Core Scientific by 10.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company's stock valued at $452,000 after purchasing an additional 3,591 shares during the period. Finally, Harvest Portfolios Group Inc. increased its stake in shares of Core Scientific by 10.1% in the third quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company's stock valued at $663,000 after purchasing an additional 5,109 shares during the period.
About Core Scientific
(
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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.
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