Core Scientific, Inc. (NASDAQ:CORZ) Receives $23.69 Average Target Price from Analysts

Core Scientific, Inc. (NASDAQ:CORZ) has received a consensus rating of “Moderate Buy” from the twenty ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.2059.

Several equities research analysts have recently commented on CORZ shares. Citizens Jmp upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Thursday, December 18th. Cantor Fitzgerald raised their target price on Core Scientific from $18.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods raised their price objective on Core Scientific from $19.00 to $25.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Finally, BTIG Research raised Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Tuesday, January 6th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its holdings in Core Scientific by 192.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,662 shares of the company’s stock worth $80,000 after acquiring an additional 3,067 shares in the last quarter. Harvest Portfolios Group Inc. grew its position in shares of Core Scientific by 81.9% in the second quarter. Harvest Portfolios Group Inc. now owns 134,895 shares of the company’s stock valued at $2,303,000 after purchasing an additional 60,746 shares during the period. ORG Wealth Partners LLC raised its position in shares of Core Scientific by 1.8% during the 3rd quarter. ORG Wealth Partners LLC now owns 7,290,481 shares of the company’s stock worth $130,791,000 after purchasing an additional 128,284 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Core Scientific by 39.9% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 452,806 shares of the company’s stock worth $8,123,000 after purchasing an additional 129,133 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Core Scientific by 1,326.9% in the 2nd quarter. Prudential Financial Inc. now owns 199,630 shares of the company’s stock valued at $3,408,000 after buying an additional 185,640 shares in the last quarter.

Core Scientific Stock Up 0.2%

CORZ opened at $17.27 on Thursday. The company has a market cap of $5.35 billion, a P/E ratio of 115.14 and a beta of 6.86. The firm’s 50-day moving average price is $16.95 and its 200-day moving average price is $16.76. Core Scientific has a 52-week low of $6.20 and a 52-week high of $23.63.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.