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

Charles Schwab Investment Management Inc. increased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 44.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,932,462 shares of the company's stock after buying an additional 590,946 shares during the period. Charles Schwab Investment Management Inc. owned 0.69% of Core Scientific worth $22,919,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC bought a new position in shares of Core Scientific in the third quarter worth about $106,266,000. Vanguard Group Inc. bought a new position in shares of Core Scientific in the first quarter valued at approximately $21,973,000. Van ECK Associates Corp bought a new position in Core Scientific in the 2nd quarter valued at $12,239,000. Summit Trail Advisors LLC acquired a new position in Core Scientific in the second quarter worth $6,455,000. Finally, Bank of New York Mellon Corp grew its holdings in Core Scientific by 3,236.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 674,043 shares of the company's stock worth $6,269,000 after acquiring an additional 653,838 shares during the last quarter.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ traded up $0.05 during midday trading on Friday, reaching $16.99. The company's stock had a trading volume of 8,380,686 shares, compared to its average volume of 9,077,498. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The firm has a 50 day moving average price of $14.61 and a two-hundred day moving average price of $11.18. The firm has a market capitalization of $4.74 billion and a price-to-earnings ratio of -3.13.

Insiders Place Their Bets

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the firm's 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 of the company's stock, valued at approximately $6,252,278.29. This trade represents a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the sale, the insider now directly owns 1,661,474 shares of the company's stock, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 32.00% of the company's stock.

Analysts Set New Price Targets

CORZ has been the subject of several research analyst reports. BTIG Research boosted their price objective on shares of Core Scientific from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Canaccord Genuity Group assumed coverage on shares of Core Scientific in a research report on Monday, September 23rd. They set a "buy" rating and a $16.00 target price for the company. Roth Capital upgraded Core Scientific to a "strong-buy" rating in a research report on Thursday, November 14th. Jefferies Financial Group began coverage on Core Scientific in a report on Monday, October 28th. They set a "buy" rating and a $19.00 target price on the stock. Finally, B. Riley upped their price target on Core Scientific from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $18.38.

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.