Core Scientific (NASDAQ:CORZ) Price Target Raised to $19.00 at Macquarie

by · The Cerbat Gem

Core Scientific (NASDAQ:CORZ – Free Report) had its price target raised by Macquarie from $16.00 to $19.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently commented on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Thursday, November 7th. Needham & Company LLC lifted their price target 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. B. Riley increased their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright lifted their target price on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, Core Scientific has an average rating of “Buy” and a consensus target price of $18.08.

Read Our Latest Stock Analysis on CORZ

Core Scientific Price Performance

CORZ stock traded up $0.18 during midday trading on Thursday, reaching $15.62. 3,534,398 shares of the stock were exchanged, compared to its average volume of 8,870,480. The stock has a market capitalization of $4.36 billion and a PE ratio of -2.85. Core Scientific has a 52 week low of $2.61 and a 52 week high of $18.03. The company has a fifty day moving average price of $12.76 and a 200 day moving average price of $9.72.

Insider Activity at Core Scientific

In other news, Director Jarrod M. Patten purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average cost of $9.70 per share, with a total value of $38,800.00. Following the purchase, the director now owns 279,239 shares in the company, valued at $2,708,618.30. This represents a 1.45 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased 12,761 shares of company stock worth $127,080 in the last quarter. Company insiders own 32.00% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

Several hedge funds and other institutional investors have recently modified their holdings of CORZ. P Schoenfeld Asset Management LP acquired a new stake in Core Scientific in the 2nd quarter valued at $4,185,000. Vanguard Group Inc. acquired a new position in shares of Core Scientific during the first quarter valued at about $21,973,000. Blair William & Co. IL bought a new stake in shares of Core Scientific during the first quarter worth about $1,156,000. Van ECK Associates Corp raised its holdings in shares of Core Scientific by 22.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock worth $19,177,000 after acquiring an additional 300,942 shares during the last quarter. Finally, DeepCurrents Investment Group LLC raised its holdings in shares of Core Scientific by 157.7% in the 2nd quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock worth $2,373,000 after acquiring an additional 156,162 shares during the last quarter.

Core Scientific Company Profile

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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.

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