Core Scientific (NASDAQ:CORZ) Stock Rating Upgraded by Roth Capital

Core Scientific (NASDAQ:CORZ) was upgraded by investment analysts at Roth Capital to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research analysts also recently commented on the company. Jefferies Financial Group began coverage on Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Core Scientific in a report on Thursday, November 7th. BTIG Research increased their target price on Core Scientific from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC increased their target price on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, 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. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $18.38.

Core Scientific Stock Performance

Shares of CORZ opened at $15.83 on Thursday. The company has a market capitalization of $4.42 billion and a P/E ratio of -2.93. Core Scientific has a one year low of $2.61 and a one year high of $18.03. The stock has a 50-day moving average price of $12.86 and a 200 day moving average price of $9.76.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the transaction, the director now directly owns 285,760 shares in the company, valued at $2,766,156.80. The trade was a 1.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 12,761 shares of company stock worth $127,080. 32.00% of the stock is currently owned by company insiders.

Institutional Trading of Core Scientific

Several large investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC acquired a new stake in Core Scientific in the 3rd quarter valued at approximately $106,266,000. Vanguard Group Inc. acquired a new stake in Core Scientific in the 1st quarter valued at approximately $21,973,000. Parsifal Capital Management LP increased its position 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 valued at $64,196,000 after purchasing an additional 204,314 shares during the period. State Street Corp increased its position 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 valued at $47,522,000 after purchasing an additional 583,493 shares during the period. Finally, Taconic Capital Advisors LP increased its position in shares of Core Scientific by 178.7% during the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after purchasing an additional 1,742,462 shares during the period.

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.