Core Scientific Inc. [NASDAQ: CORZ] slipped around -0.14 points on Monday, while shares priced at $1.66 at the close of the session, down -7.78%. The company report on September 6, 2022 that Core Scientific Announces August Updates.
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Operating approximately 225,000 owned and colocated ASIC servers.
Core Scientific Inc. stock is now -84.84% down from its year-to-date (YTD) trading value. CORZ Stock saw the intraday high of $1.78 and lowest of $1.63 per share. The company’s 52-week high price is 14.98, which means current price is +18.57% above from all time high which was touched on 02/09/22.
Compared to the average trading volume of 5.10M shares, CORZ reached a trading volume of 6088868 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Core Scientific Inc. [CORZ]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CORZ shares is $6.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CORZ stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Core Scientific Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 06, 2022. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on June 24, 2022, representing the official price target for Core Scientific Inc. stock. Previously, the target price had yet another raise to $8, while Chardan Capital Markets analysts kept a Buy rating on CORZ stock.
The Average True Range (ATR) for Core Scientific Inc. is set at 0.25, with the Price to Sales ratio for CORZ stock in the period of the last 12 months amounting to 0.86. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 0.32.
How has CORZ stock performed recently?
Core Scientific Inc. [CORZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.87. With this latest performance, CORZ shares dropped by -42.96% in over the last four-week period, additionally sinking by -81.29% over the last 6 months – not to mention a drop of -83.65% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CORZ stock in for the last two-week period is set at 31.72, with the RSI for the last a single of trading hit 24.29, and the three-weeks RSI is set at 36.40 for Core Scientific Inc. [CORZ]. The present Moving Average for the last 50 days of trading for this stock 2.2960, while it was recorded at 1.9100 for the last single week of trading, and 5.9431 for the last 200 days.
Core Scientific Inc. [CORZ]: Deeper insight into the fundamentals
Return on Equity for this stock declined to -23.15, with Return on Assets sitting at -18.76.
Core Scientific Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
Insider trade positions for Core Scientific Inc. [CORZ]
There are presently around $113 million, or 19.80% of CORZ stock, in the hands of institutional investors. The top three institutional holders of CORZ stocks are: BLACKROCK INC. with ownership of 14,451,250, which is approximately 354.196% of the company’s market cap and around 16.30% of the total institutional ownership; COMERICA BANK, holding 5,284,101 shares of the stock with an approximate value of $8.77 million in CORZ stocks shares; and STATE STREET CORP, currently with $6.91 million in CORZ stock with ownership of nearly 445.388% of the company’s market capitalization.
Positions in Core Scientific Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 111 institutional holders increased their position in Core Scientific Inc. [NASDAQ:CORZ] by around 46,271,430 shares. Additionally, 30 investors decreased positions by around 4,033,705 shares, while 19 investors held positions by with 17,663,354 shares. The mentioned changes placed institutional holdings at 67,968,489 shares, according to the latest SEC report filing. CORZ stock had 68 new institutional investments in for a total of 20,097,227 shares, while 19 institutional investors sold positions of 2,653,369 shares during the same period.