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

Core Scientific (NASDAQ:CORZ) had its price objective lifted by Macquarie from $16.00 to $19.00 in a report published on Thursday morning,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group assumed coverage on shares of Core Scientific in a research note on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company. Canaccord Genuity Group assumed coverage on Core Scientific in a research report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price objective on the stock. Needham & Company LLC lifted their price objective on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. HC Wainwright upped their target price on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Compass Point raised their price objective on Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and an average target price of $18.38.

Core Scientific Trading Up 2.5 %

Shares of NASDAQ CORZ opened at $15.83 on Thursday. The stock has a market cap of $4.42 billion and a price-to-earnings ratio of -2.93. The company’s 50-day moving average price is $12.99 and its 200 day moving average price is $9.84. Core Scientific has a 52 week low of $2.61 and a 52 week high of $18.03.

Insider Buying and Selling

In related news, Director Jarrod M. Patten purchased 5,021 shares of Core Scientific stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $9.68 per share, with a total value of $48,603.28. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders acquired 12,761 shares of company stock valued at $127,080. Company insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Core Scientific by 26.7% in the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after purchasing an additional 1,113,285 shares during the period. Sender Co & Partners Inc. purchased a new position in Core Scientific in the 3rd quarter valued at about $2,426,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Core Scientific during the third quarter valued at about $1,459,000. Anson Funds Management LP purchased a new stake in shares of Core Scientific during the third quarter worth about $3,641,000. Finally, Main Management ETF Advisors LLC acquired a new position in shares of Core Scientific in the third quarter worth about $1,068,000.

About Core Scientific

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.