By otakuyassine3@gmail.com 
Core Scientific, Inc. (NASDAQ:CORZ – Get Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $14.96, but opened at $14.62. Core Scientific shares last traded at $14.60, with a volume of 569,069 shares changing hands.
Analyst Upgrades and Downgrades
CORZ has been the topic of several research reports. B. Riley upped their price objective on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Roth Capital raised Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. HC Wainwright lifted their price objective on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group started coverage on shares of Core Scientific in a research report on Monday, September 23rd. They set a “buy” rating and a $16.00 target price on the stock. Finally, Roth Mkm assumed coverage on shares of Core Scientific in a research note on Friday, November 15th. They set a “buy” rating and a $25.50 price target for the company. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned 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 $18.46.
Read Our Latest Research Report on CORZ
Core Scientific Trading Down 2.5 %
The stock has a market cap of $4.07 billion and a price-to-earnings ratio of -2.70. The company has a 50 day simple moving average of $15.45 and a 200-day simple moving average of $12.20.
Insider Transactions at Core Scientific
In related news, Director Yadin Rozov sold 105,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the completion of the transaction, the director now directly owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the completion of the transaction, the insider now owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 32.00% of the company’s stock.
Institutional Investors Weigh In On Core Scientific
Several large investors have recently made changes to their positions in CORZ. Rise Advisors LLC raised its position in Core Scientific by 14.3% during the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after acquiring an additional 1,000 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Core Scientific in the 2nd quarter valued at about $28,000. Sunbelt Securities Inc. acquired a new stake in Core Scientific in the 2nd quarter valued at about $33,000. Vontobel Holding Ltd. grew its holdings in Core Scientific by 10.4% during the third quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock worth $452,000 after purchasing an additional 3,591 shares during the period. Finally, Harvest Portfolios Group Inc. increased its position in Core Scientific by 10.1% during the third quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company’s stock worth $663,000 after buying an additional 5,109 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.
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