Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) shares were up 7.4% during mid-day trading on Monday after BTIG Research raised their price target on the stock from $19.00 to $20.00. BTIG Research currently has a buy rating on the stock. Core Scientific traded as high as $16.81 and last traded at $16.70. Approximately 3,817,931 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 9,030,431 shares. The stock had previously closed at $15.55.
CORZ has been the topic of a number of other research reports. HC Wainwright boosted their price target on shares of Core Scientific from $15.00 to $17.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Macquarie boosted their price target on shares of Core Scientific from $16.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Jefferies Financial Group began coverage on shares of Core Scientific in a report on Monday, October 28th. They set a "buy" rating and a $19.00 price target on the stock. Canaccord Genuity Group restated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a report on Thursday, November 7th. Finally, Roth Capital upgraded shares of Core Scientific to a "strong-buy" rating in a report on Thursday, November 14th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $18.46.
Get Our Latest Analysis on Core Scientific
Insider Buying and Selling at Core Scientific
In other Core Scientific news, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the transaction, the insider now owns 1,661,474 shares in the company, valued at $28,411,205.40. This trade represents a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction that occurred 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 directly owns 345,239 shares in the company, 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. Company insiders own 32.00% of the company's stock.
Institutional Investors Weigh In On Core Scientific
A number of hedge funds have recently bought and sold shares of CORZ. Banque Cantonale Vaudoise bought a new position in shares of Core Scientific during the 2nd quarter worth about $28,000. Sunbelt Securities Inc. bought a new position in Core Scientific during the second quarter valued at about $33,000. Rise Advisors LLC raised its holdings in Core Scientific by 14.3% in the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company's stock valued at $95,000 after acquiring an additional 1,000 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in shares of Core Scientific in the 2nd quarter worth approximately $93,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Core Scientific during the 3rd quarter worth approximately $119,000.
Core Scientific Stock Up 6.5 %
The business has a 50-day moving average price of $15.08 and a 200-day moving average price of $11.75. The firm has a market capitalization of $4.62 billion and a P/E ratio of -3.02.
Core Scientific Company Profile
(
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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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