BTIG Research Issues Positive Forecast for Core Scientific (NASDAQ:CORZ) Stock Price

Core Scientific (NASDAQ:CORZ) had its target price hoisted by analysts at BTIG Research from $15.00 to $19.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 23.30% from the stock’s previous close.

A number of other research firms also recently commented on CORZ. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a report on Thursday, November 7th. B. Riley upped their price target on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group initiated coverage on shares of Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Tuesday, September 10th. Finally, HC Wainwright lifted their price target on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, Core Scientific has an average rating of “Buy” and a consensus target price of $18.38.

Core Scientific Price Performance

Shares of CORZ stock traded down $0.03 on Friday, reaching $15.41. 3,812,568 shares of the stock were exchanged, compared to its average volume of 8,871,831. Core Scientific has a one year low of $2.61 and a one year high of $18.03. The stock has a market cap of $4.30 billion and a PE ratio of -2.84. The stock has a 50 day moving average price of $12.76 and a 200 day moving average price of $9.72.

Insider Activity at Core Scientific

In other Core Scientific news, Director Jarrod M. Patten purchased 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average cost of $9.70 per share, with a total value of $38,800.00. Following the purchase, the director now directly owns 279,239 shares of the company’s stock, valued at $2,708,618.30. The trade was a 1.45 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have bought 12,761 shares of company stock valued at $127,080. 32.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CORZ. Rise Advisors LLC boosted its holdings in shares of 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 buying an additional 1,000 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Core Scientific during the second quarter worth $28,000. Sunbelt Securities Inc. acquired a new stake in Core Scientific in the second quarter valued at $33,000. Vontobel Holding Ltd. lifted its stake in Core Scientific by 10.4% in 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 last quarter. Finally, Harvest Portfolios Group Inc. grew its holdings in Core Scientific by 10.1% during the third quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company’s stock worth $663,000 after purchasing an additional 5,109 shares during the period.

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.