Core Scientific (NASDAQ:CORZ) Raised to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Core Scientific (NASDAQ:CORZ) to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a research report on Thursday, October 3rd. Compass Point raised their target price on Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC raised their price objective on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. BTIG Research increased their target price on shares of Core Scientific from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price objective 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 stock. According to MarketBeat, Core Scientific currently has an average rating of “Buy” and a consensus price target of $18.38.

Core Scientific Price Performance

Shares of Core Scientific stock traded up $0.39 during midday trading on Thursday, reaching $15.83. The company had a trading volume of 7,901,672 shares, compared to its average volume of 8,891,639. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.03. The stock has a fifty day moving average price of $12.86 and a 200 day moving average price of $9.76. The firm has a market cap of $4.42 billion and a PE ratio of -2.93.

Insider Buying and Selling at Core Scientific

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

Institutional Trading of Core Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in CORZ. Banque Cantonale Vaudoise acquired a new position in Core Scientific in the second quarter valued at approximately $28,000. Sunbelt Securities Inc. acquired a new position in Core Scientific during the 2nd quarter worth approximately $33,000. Rise Advisors LLC acquired a new stake in Core Scientific in the second quarter valued at $65,000. Aspect Partners LLC acquired a new position in Core Scientific during the first quarter worth about $29,000. Finally, Divisadero Street Capital Management LP acquired a new position in Core Scientific during the second quarter worth $93,000.

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.