Capstone Investment Advisors LLC raised its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 113.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,000 shares of the company's stock after purchasing an additional 29,230 shares during the period. Capstone Investment Advisors LLC's holdings in Core Scientific were worth $652,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CORZ. Banque Cantonale Vaudoise bought a new position in shares of Core Scientific in the 2nd quarter worth approximately $28,000. Sunbelt Securities Inc. bought a new position in shares of Core Scientific in the 2nd quarter worth approximately $33,000. Rise Advisors LLC bought a new position in shares of Core Scientific in the 2nd quarter worth approximately $65,000. Divisadero Street Capital Management LP bought a new position in shares of Core Scientific in the 2nd quarter worth approximately $93,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Core Scientific in the 3rd quarter worth approximately $119,000.
Wall Street Analysts Forecast Growth
CORZ has been the topic of several recent research reports. Canaccord Genuity Group initiated coverage on Core Scientific in a research note on Monday, September 23rd. They issued a "buy" rating and a $16.00 price target on the stock. HC Wainwright upped their price target on Core Scientific from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Macquarie upped their price target on Core Scientific from $16.00 to $19.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. Needham & Company LLC upped their price target on Core Scientific from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, B. Riley upped their price target on Core Scientific from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Thirteen 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, the stock presently has an average rating of "Buy" and an average price target of $18.38.
Check Out Our Latest Research Report on CORZ
Core Scientific Stock Performance
Shares of NASDAQ CORZ traded up $0.17 during midday trading on Friday, hitting $17.88. 4,656,935 shares of the stock traded hands, compared to its average volume of 8,899,387. The firm has a 50-day moving average of $14.27 and a two-hundred day moving average of $10.81. The firm has a market capitalization of $4.99 billion and a P/E ratio of -3.30. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.
Insider Activity
In other news, Director Jarrod M. Patten purchased 5,021 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $9.68 per share, with a total value of $48,603.28. Following the acquisition, the director now directly owns 285,760 shares of the company's stock, valued at $2,766,156.80. This represents a 1.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yadin Rozov sold 105,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total value of $1,901,550.00. Following the transaction, the director now directly owns 345,239 shares in the company, valued at $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 32.00% of the company's stock.
Core Scientific Company Profile
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Free Report)
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.
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