Core Scientific (NASDAQ:CORZ) Upgraded by Roth Capital to Strong-Buy Rating

Core Scientific (NASDAQ:CORZ) was upgraded by stock analysts at Roth Capital to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Macquarie raised their target price on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research note on Thursday, November 7th. B. Riley upped their price objective on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Core Scientific in a research report on Monday, October 28th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Canaccord Genuity Group initiated coverage on shares of Core Scientific in a report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price target for the company. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Core Scientific presently has a consensus rating of “Buy” and an average price target of $18.38.

Core Scientific Trading Up 2.5 %

Core Scientific stock traded up $0.39 during mid-day trading on Thursday, hitting $15.83. The stock had a trading volume of 7,901,672 shares, compared to its average volume of 8,891,639. Core Scientific has a one year low of $2.61 and a one year high of $18.03. The firm has a market capitalization of $4.42 billion and a P/E ratio of -2.93. The firm’s 50 day moving average is $12.99 and its 200 day moving average is $9.84.

Insiders Place Their Bets

In other news, Director Jarrod M. Patten purchased 5,021 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the acquisition, the director now owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. This trade represents a 1.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 12,761 shares of company stock worth $127,080 over the last quarter. Company insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in CORZ. P Schoenfeld Asset Management LP bought a new position in Core Scientific in the second quarter worth approximately $4,185,000. Vanguard Group Inc. bought a new position in shares of Core Scientific in the 1st quarter worth $21,973,000. Blair William & Co. IL bought a new position in shares of Core Scientific in the 1st quarter worth $1,156,000. Van ECK Associates Corp boosted its position in Core Scientific by 22.9% during the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after purchasing an additional 300,942 shares in the last quarter. Finally, DeepCurrents Investment Group LLC grew its stake in Core Scientific by 157.7% in the second quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock valued at $2,373,000 after purchasing an additional 156,162 shares during the last quarter.

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.