Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) traded down 5.2% during trading on Tuesday . The company traded as low as $14.20 and last traded at $14.34. 2,380,444 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 7,360,831 shares. The stock had previously closed at $15.12.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on CORZ shares. Canaccord Genuity Group started coverage on shares of Core Scientific in a report on Monday, September 23rd. They set a "buy" rating and a $16.00 price objective for the company. Sanford C. Bernstein reiterated an "outperform" rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, September 10th. Macquarie increased their price objective on Core Scientific from $16.00 to $19.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. 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 report on Thursday, November 7th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Thursday, November 7th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $18.46.
View Our Latest Research Report on Core Scientific
Core Scientific Price Performance
The company has a market cap of $3.94 billion and a PE ratio of -2.61. The stock's 50-day moving average is $15.62 and its 200 day moving average is $12.51.
Insider Activity
In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the company's 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 transaction, the director now owns 345,239 shares in the company, valued at approximately $6,252,278.29. This represents a 23.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 25,000 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 1,661,474 shares of the company's stock, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 348,241 shares of company stock worth $5,436,802. Insiders own 32.00% of the company's stock.
Hedge Funds Weigh In On Core Scientific
Several hedge funds have recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in shares of Core Scientific in the 2nd quarter valued at $33,000. Divisadero Street Capital Management LP acquired a new position in Core Scientific during the second quarter valued at $93,000. Rise Advisors LLC boosted its holdings in Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company's stock valued at $95,000 after purchasing an additional 1,000 shares during the last quarter. Xponance Inc. acquired a new stake in Core Scientific during the 2nd quarter worth about $104,000. Finally, Amalgamated Bank purchased a new position in shares of Core Scientific during the 2nd quarter valued at about $115,000.
About Core Scientific
(
Get Free Report)
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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