Core Scientific (NASDAQ:CORZ) Given New $20.00 Price Target at Compass Point

Core Scientific (NASDAQ:CORZ) had its target price reduced by Compass Point from $26.00 to $20.00 in a research report released on Tuesday morning,Benzinga reports. Compass Point currently has a buy rating on the stock.

CORZ has been the topic of a number of other research reports. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Core Scientific in a report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. Roth Capital raised Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Roth Mkm began coverage on Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective for the company. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $19.07.

Core Scientific Price Performance

Shares of Core Scientific stock opened at $9.76 on Tuesday. The firm has a market cap of $2.73 billion and a price-to-earnings ratio of -1.80. The stock’s 50-day moving average is $13.55 and its 200 day moving average is $13.30. Core Scientific has a one year low of $2.61 and a one year high of $18.63.

Insiders Place Their Bets

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $6,004,122.88. Following the completion of the sale, the chief executive officer now owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. This trade represents a 8.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Todd M. Duchene sold 129,861 shares of Core Scientific stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,849,220.64. Following the sale, the insider now owns 2,051,649 shares in the company, valued at $29,215,481.76. This trade represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 614,032 shares of company stock valued at $9,534,916 in the last three months. 32.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Core Scientific

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Core Scientific by 54.3% during the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock valued at $272,270,000 after buying an additional 6,819,406 shares during the period. Beryl Capital Management LLC boosted its stake in Core Scientific by 24.3% in the fourth quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company’s stock valued at $255,423,000 after acquiring an additional 3,548,396 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of Core Scientific by 112.1% during the 4th quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company’s stock valued at $144,212,000 after acquiring an additional 5,424,901 shares during the period. ORG Wealth Partners LLC grew its position in shares of Core Scientific by 0.3% during the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock valued at $126,262,000 after acquiring an additional 26,649 shares during the period. Finally, FMR LLC increased its stake in shares of Core Scientific by 2,937.7% during the 4th quarter. FMR LLC now owns 7,436,229 shares of the company’s stock worth $104,479,000 after purchasing an additional 7,191,428 shares during the last quarter.

About Core Scientific

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.