Core Scientific, Inc. (NASDAQ:CORZ) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have earned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $23.6944.

Several analysts have recently weighed in on CORZ shares. Citizens Jmp raised Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a research note on Wednesday, January 21st. Cantor Fitzgerald raised their target price on shares of Core Scientific from $18.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Citigroup raised shares of Core Scientific from a “market perform” rating to an “outperform” rating in a report on Thursday, December 18th. Finally, Macquarie Infrastructure upgraded shares of Core Scientific from a “hold” rating to an “outperform” rating and increased their price target for the stock from $18.00 to $34.00 in a research note on Friday, October 31st.

Core Scientific Price Performance

NASDAQ CORZ opened at $18.09 on Thursday. The firm’s fifty day moving average price is $16.93 and its 200 day moving average price is $16.61. Core Scientific has a 12 month low of $6.20 and a 12 month high of $23.63. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 120.61 and a beta of 6.86.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its holdings in Core Scientific by 192.3% during the second quarter. Nisa Investment Advisors LLC now owns 4,662 shares of the company’s stock worth $80,000 after buying an additional 3,067 shares in the last quarter. Harvest Portfolios Group Inc. increased its holdings in 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 buying an additional 60,746 shares in the last quarter. ORG Wealth Partners LLC lifted 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 valued at $130,791,000 after acquiring an additional 128,284 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake 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 acquiring an additional 129,133 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Core Scientific by 1,326.9% in the 2nd quarter. Prudential Financial Inc. now owns 199,630 shares of the company’s stock worth $3,408,000 after acquiring an additional 185,640 shares during the period.

Core Scientific Company Profile

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.