Craig Hallum Begins Coverage on Core Scientific (NASDAQ:CORZ)

Research analysts at Craig Hallum assumed coverage on shares of Core Scientific (NASDAQ:CORZ) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $24.00 price target on the stock. Craig Hallum’s price target indicates a potential upside of 60.00% from the stock’s previous close.

Several other equities research analysts have also issued reports on CORZ. Jefferies Financial Group initiated coverage on shares of Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 price target on the stock. Compass Point increased their price target on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. BTIG Research boosted their price target on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Core Scientific in a report on Friday. Finally, B. Riley boosted their target price on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.86.

Core Scientific Stock Up 2.5 %

Shares of CORZ opened at $15.00 on Tuesday. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.63. The stock has a market capitalization of $4.19 billion and a P/E ratio of -2.77. The company has a 50 day moving average of $15.58 and a 200-day moving average of $12.84.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the transaction, the director now owns 345,239 shares in the company, valued at $6,252,278.29. This represents a 23.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the transaction, the chief executive officer now directly owns 4,128,505 shares in the company, valued at $58,789,911.20. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 348,241 shares of company stock valued at $5,436,802 in the last three months.

Institutional Investors Weigh In On Core Scientific

A number of large investors have recently added to or reduced their stakes in CORZ. Wealth Enhancement Advisory Services LLC lifted its position in shares of Core Scientific by 25.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock valued at $1,378,000 after acquiring an additional 20,000 shares during the period. Highland Peak Capital LLC grew its stake in Core Scientific by 37.9% during the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock worth $4,905,000 after buying an additional 113,584 shares in the last quarter. Mirabella Financial Services LLP bought a new position in Core Scientific in the 3rd quarter valued at about $18,383,000. Van ECK Associates Corp lifted its holdings in shares of Core Scientific by 22.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock worth $19,177,000 after acquiring an additional 300,942 shares during the period. Finally, Capstone Investment Advisors LLC increased its stake in Core Scientific by 113.4% in the third quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company’s stock valued at $652,000 after acquiring an additional 29,230 shares during the last quarter.

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.