Charles Schwab Investment Management Inc. Grows Position in Core Scientific, Inc. (NASDAQ:CORZ)

Charles Schwab Investment Management Inc. lifted its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 23.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,392,092 shares of the company's stock after acquiring an additional 459,630 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.86% of Core Scientific worth $33,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rush Island Management LP acquired a new stake in Core Scientific during the third quarter worth approximately $32,221,000. Taconic Capital Advisors LP boosted its holdings in shares of Core Scientific by 178.7% during the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company's stock worth $32,229,000 after buying an additional 1,742,462 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of Core Scientific during the 3rd quarter worth approximately $18,383,000. Geode Capital Management LLC increased its stake in shares of Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company's stock valued at $62,594,000 after acquiring an additional 1,113,285 shares in the last quarter. Finally, Whitefort Capital Management LP lifted its position in shares of Core Scientific by 337.1% during the 3rd quarter. Whitefort Capital Management LP now owns 1,147,500 shares of the company's stock valued at $13,609,000 after acquiring an additional 885,000 shares during the period.

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Wall Street Analyst Weigh In

A number of research firms have commented on CORZ. HC Wainwright restated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, March 11th. BTIG Research raised their target price on Core Scientific from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Keefe, Bruyette & Woods began coverage on Core Scientific in a research note on Monday, January 27th. They set an "outperform" rating and a $22.00 price target on the stock. Cantor Fitzgerald cut their price target on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a report on Wednesday, March 12th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Core Scientific has a consensus rating of "Buy" and a consensus target price of $19.07.

Core Scientific Stock Performance

NASDAQ:CORZ traded down $0.08 on Thursday, hitting $8.61. The stock had a trading volume of 13,335,243 shares, compared to its average volume of 10,951,373. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The firm's fifty day simple moving average is $11.72 and its two-hundred day simple moving average is $13.18. The stock has a market cap of $2.53 billion, a P/E ratio of -1.59 and a beta of 6.83.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analysts' expectations of $97.07 million. Equities research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Transactions at Core Scientific

In other news, Director Todd A. Becker sold 134,250 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the completion of the transaction, the director now directly owns 195,687 shares of the company's stock, valued at $2,103,635.25. This represents a 40.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jordan Levy purchased 62,500 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the acquisition, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. This trade represents a 25.57 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 748,282 shares of company stock worth $10,978,104 in the last ninety days. Company insiders own 32.00% of the company's stock.

Core Scientific Company Profile

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.