Compass Point Cuts Core Scientific (NASDAQ:CORZ) Price Target to $20.00

Core Scientific (NASDAQ:CORZ) had its target price cut by equities research analysts at Compass Point from $26.00 to $20.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Compass Point’s price target indicates a potential upside of 113.56% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group started coverage on shares of Core Scientific in a research report on Monday, October 28th. They issued a “buy” rating and a $19.00 price target for the company. Keefe, Bruyette & Woods began coverage on Core Scientific in a report on Monday, January 27th. They set an “outperform” rating and a $22.00 target price for the company. Craig Hallum assumed coverage on Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Core Scientific in a research report on Friday, January 17th. Finally, Roth Capital upgraded Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $19.07.

Core Scientific Stock Down 5.0 %

Shares of CORZ stock traded down $0.50 on Tuesday, hitting $9.37. The stock had a trading volume of 13,187,121 shares, compared to its average volume of 10,956,376. Core Scientific has a one year low of $2.61 and a one year high of $18.63. The business has a 50 day moving average price of $13.55 and a 200 day moving average price of $13.30. The company has a market cap of $2.62 billion and a PE ratio of -1.73.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 25,277 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the transaction, the insider now owns 2,023,423 shares of the company’s stock, valued at approximately $32,860,389.52. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the sale, the chief executive officer now directly owns 3,758,793 shares in the company, valued at $61,042,798.32. This trade represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 614,032 shares of company stock worth $9,534,916 in the last three months. Corporate insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CORZ. Wellington Shields & Co. LLC purchased a new stake in Core Scientific in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. acquired a new stake in Core Scientific during the 4th quarter valued at approximately $34,000. Newbridge Financial Services Group Inc. acquired a new stake in Core Scientific during the 4th quarter valued at approximately $42,000. Vestcor Inc acquired a new stake in shares of Core Scientific in the fourth quarter worth $66,000. Finally, US Bancorp DE purchased a new position in shares of Core Scientific during the fourth quarter worth $99,000.

Core Scientific Company Profile

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.