Macquarie Issues Positive Forecast for Core Scientific (NASDAQ:CORZ) Stock Price

Core Scientific (NASDAQ:CORZ) had its price target boosted by equities research analysts at Macquarie from $16.00 to $19.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price objective indicates a potential upside of 21.41% from the stock’s current price.

Several other brokerages have also recently commented on CORZ. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 target price on shares of Core Scientific in a report on Thursday, October 3rd. Jefferies Financial Group began coverage on shares of Core Scientific in a research note on Monday, October 28th. They set a “buy” rating and a $19.00 target price for the company. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, September 10th. HC Wainwright boosted their price target on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Core Scientific currently has an average rating of “Buy” and a consensus target price of $17.46.

Core Scientific Stock Performance

CORZ traded down $0.48 during trading on Thursday, reaching $15.65. 4,053,005 shares of the company’s stock were exchanged, compared to its average volume of 8,886,990. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.03. The company’s fifty day moving average price is $12.76 and its 200-day moving average price is $9.72. The firm has a market capitalization of $4.37 billion and a PE ratio of -2.88.

Insider Activity

In related news, Director Jarrod M. Patten purchased 5,021 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $9.68 per share, with a total value of $48,603.28. Following the completion of the purchase, the director now owns 285,760 shares in the company, valued at $2,766,156.80. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the sale, the insider now owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jarrod M. Patten bought 5,021 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $9.68 per share, with a total value of $48,603.28. Following the acquisition, the director now directly owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,761 shares of company stock valued at $127,080 in the last 90 days. 32.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Core Scientific

Large investors have recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in Core Scientific during the 2nd quarter valued at $28,000. Sunbelt Securities Inc. purchased a new position in Core Scientific during the 2nd quarter valued at about $33,000. Rise Advisors LLC purchased a new position in Core Scientific during the 2nd quarter valued at about $65,000. Aspect Partners LLC purchased a new position in Core Scientific during the 1st quarter valued at about $29,000. Finally, Divisadero Street Capital Management LP bought a new stake in shares of Core Scientific during the 2nd quarter valued at about $93,000.

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.