Roth Mkm Initiates Coverage on Core Scientific (NASDAQ:CORZ)

Roth Mkm began coverage on shares of Core Scientific (NASDAQ:CORZ) in a research note issued on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $25.50 price target on the stock. Roth Mkm’s price target points to a potential upside of 61.09% from the stock’s current price.

CORZ has been the topic of several other reports. HC Wainwright lifted 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. Needham & Company LLC boosted their target price on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a report on Thursday, October 3rd. 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 on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. 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, the company has a consensus rating of “Buy” and an average price target of $18.38.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $15.83 on Friday. Core Scientific has a 52-week low of $2.61 and a 52-week high of $18.03. The company has a market cap of $4.42 billion and a P/E ratio of -2.93. The stock’s 50-day moving average is $12.99 and its 200-day moving average is $9.84.

Insider Activity at Core Scientific

In related news, Director Jarrod M. Patten acquired 5,021 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $9.68 per share, with a total value of $48,603.28. Following the completion of the acquisition, the director now owns 285,760 shares in the company, valued at $2,766,156.80. The trade was a 1.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have purchased a total of 12,761 shares of company stock valued at $127,080 in the last 90 days. 32.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Core Scientific by 26.7% during the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after buying an additional 1,113,285 shares during the last quarter. Sender Co & Partners Inc. acquired a new position in shares of Core Scientific in the 3rd quarter worth approximately $2,426,000. Y Intercept Hong Kong Ltd bought a new stake in Core Scientific during the 3rd quarter worth approximately $1,459,000. Anson Funds Management LP acquired a new stake in Core Scientific during the 3rd quarter valued at $3,641,000. Finally, Main Management ETF Advisors LLC bought a new position in Core Scientific in the 3rd quarter valued at $1,068,000.

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.