Core Scientific (NASDAQ:CORZ) Reaches New 12-Month Low at $1.37

Core Scientific, Inc. (NASDAQ:CORZGet Rating)’s stock price hit a new 52-week low on Friday . The stock traded as low as 1.37 and last traded at 1.44, with a volume of 57687 shares traded. The stock had previously closed at 1.50.

Wall Street Analyst Weigh In

Several analysts have weighed in on CORZ shares. Chardan Capital started coverage on Core Scientific in a report on Friday, June 3rd. They set a “buy” rating and a $8.00 price objective for the company. DA Davidson lowered their price target on Core Scientific to $9.00 in a research note on Monday, August 15th. B. Riley lowered their price target on Core Scientific from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Cowen lowered their price target on Core Scientific from $4.00 to $3.75 and set an “outperform” rating for the company in a research note on Friday, September 16th. Finally, BTIG Research lowered their price target on Core Scientific from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, June 3rd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of 7.44.

Core Scientific Price Performance

The company has a debt-to-equity ratio of 2.16, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a fifty day simple moving average of 2.31 and a two-hundred day simple moving average of 4.10.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CORZ. Ovata Capital Management Ltd purchased a new stake in shares of Core Scientific during the 1st quarter worth approximately $25,000. Sterling Investment Advisors Ltd. purchased a new stake in shares of Core Scientific during the 1st quarter worth approximately $33,000. New York State Common Retirement Fund purchased a new stake in shares of Core Scientific during the 1st quarter worth approximately $40,000. Quantbot Technologies LP bought a new position in shares of Core Scientific during the 1st quarter valued at approximately $56,000. Finally, Lee Financial Co bought a new position in shares of Core Scientific during the 1st quarter valued at approximately $71,000. 20.65% of the stock is owned by hedge funds and other institutional investors.

About Core Scientific

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Core Scientific, Inc operates facilities for digital asset mining and colocation services in North America. It provides blockchain infrastructure, software solutions, and services. The company mines digital assets for its own account and provides hosting colocation services for other large-scale miners.

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