Core Scientific (NASDAQ:CORZ) Trading Up 10.5% – Here’s What Happened

Core Scientific, Inc. (NASDAQ:CORZ)’s share price rose 10.5% during trading on Monday . The stock traded as high as $18.58 and last traded at $18.5750. Approximately 11,559,368 shares were traded during trading, an increase of 1% from the average daily volume of 11,488,308 shares. The stock had previously closed at $16.81.

Analyst Ratings Changes

CORZ has been the topic of several recent research reports. B. Riley Financial raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday, October 22nd. BTIG Research upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, January 6th. Citizens Jmp raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Thursday, December 18th. Roth Mkm restated a “buy” rating on shares of Core Scientific in a research report on Friday, October 31st. Finally, Craig Hallum set a $27.00 price objective on shares of Core Scientific in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.69.

Core Scientific Price Performance

The company’s fifty day moving average is $16.86 and its 200-day moving average is $16.56.

Institutional Investors Weigh In On Core Scientific

Several hedge funds and other institutional investors have recently modified their holdings of CORZ. Xponance Inc. lifted its stake in Core Scientific by 2.7% in the 3rd quarter. Xponance Inc. now owns 22,334 shares of the company’s stock worth $401,000 after purchasing an additional 595 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Core Scientific by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,029 shares of the company’s stock valued at $377,000 after purchasing an additional 711 shares during the period. CWA Asset Management Group LLC lifted its stake in shares of Core Scientific by 0.3% in the 4th quarter. CWA Asset Management Group LLC now owns 239,937 shares of the company’s stock valued at $3,493,000 after purchasing an additional 756 shares during the last quarter. Orion Porfolio Solutions LLC lifted its position in Core Scientific by 5.2% in the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after buying an additional 766 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of Core Scientific by 96.5% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock worth $33,000 after acquiring an additional 946 shares during the last quarter.

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.