Core Scientific (NASDAQ:CORZ) Coverage Initiated at Roth Mkm

Roth Mkm assumed coverage on shares of Core Scientific (NASDAQ:CORZ) in a report released on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $25.50 target price on the stock.

A number of other equities analysts also recently issued reports on CORZ. Needham & Company LLC lifted 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. Sanford C. Bernstein reissued an “outperform” rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, September 10th. Compass Point upped their price objective on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. HC Wainwright increased their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, 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. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.38.

Core Scientific Stock Up 2.5 %

CORZ stock opened at $15.83 on Friday. The firm has a market capitalization of $4.42 billion and a PE ratio of -2.93. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.03. The stock’s 50 day moving average is $12.99 and its 200-day moving average is $9.89.

Insider Activity at Core Scientific

In other news, Director Jarrod M. Patten acquired 5,021 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the purchase, the director now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have bought 12,761 shares of company stock worth $127,080. Insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blair William & Co. IL bought a new stake in shares of Core Scientific in the first quarter valued at approximately $1,156,000. Dorsey & Whitney Trust CO LLC purchased a new position in Core Scientific in the 1st quarter valued at approximately $122,000. Vanguard Group Inc. bought a new stake in Core Scientific during the 1st quarter valued at $21,973,000. Vident Advisory LLC bought a new position in shares of Core Scientific in the first quarter worth $4,047,000. Finally, Anson Funds Management LP purchased a new position in shares of Core Scientific in the first quarter valued at $1,000,000.

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.