BTIG Research Boosts Core Scientific (NASDAQ:CORZ) Price Target to $19.00

Core Scientific (NASDAQ:CORZ) had its target price upped by BTIG Research from $15.00 to $19.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

CORZ has been the topic of several other research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. Compass Point increased their target price on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Roth Mkm assumed coverage on Core Scientific in a research report on Friday. They set a “buy” rating and a $25.50 price target on the stock. HC Wainwright raised their price target on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group assumed coverage on Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price target on the stock. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Core Scientific has a consensus rating of “Buy” and a consensus price target of $18.38.

Core Scientific Trading Down 1.5 %

NASDAQ:CORZ opened at $15.60 on Friday. Core Scientific has a 1-year low of $2.61 and a 1-year high of $18.03. The business’s 50-day moving average price is $12.99 and its two-hundred day moving average price is $9.94. The firm has a market capitalization of $4.36 billion and a price-to-earnings ratio of -2.88.

Insider Buying and Selling

In related news, Director Jarrod M. Patten purchased 5,021 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the purchase, the director now directly owns 285,760 shares in the company, valued at $2,766,156.80. This trade represents a 1.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders bought 12,761 shares of company stock worth $127,080. 32.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. ORG Wealth Partners LLC bought a new position in Core Scientific in the third quarter valued at approximately $106,266,000. Vanguard Group Inc. bought a new position in shares of Core Scientific during the 1st quarter worth approximately $21,973,000. Parsifal Capital Management LP boosted its stake in shares of Core Scientific by 3.9% during the 3rd quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock worth $64,196,000 after acquiring an additional 204,314 shares during the period. Geode Capital Management LLC boosted its stake in shares of Core Scientific by 26.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after acquiring an additional 1,113,285 shares during the period. Finally, State Street Corp boosted its stake in shares of Core Scientific by 17.0% during the 3rd quarter. State Street Corp now owns 4,006,922 shares of the company’s stock worth $47,522,000 after acquiring an additional 583,493 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.