LPL Financial LLC Has $5.92 Million Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

LPL Financial LLC grew its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 42.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 421,213 shares of the company's stock after buying an additional 126,454 shares during the period. LPL Financial LLC owned approximately 0.15% of Core Scientific worth $5,918,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Wellington Shields & Co. LLC acquired a new stake in Core Scientific during the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. acquired a new stake in Core Scientific in the 4th quarter valued at $34,000. Newbridge Financial Services Group Inc. acquired a new stake in Core Scientific in the 4th quarter valued at $42,000. Vestcor Inc bought a new stake in Core Scientific in the fourth quarter valued at $66,000. Finally, US Bancorp DE acquired a new position in Core Scientific during the fourth quarter worth $99,000.

Core Scientific Stock Up 3.7 %

Shares of CORZ traded up $0.25 on Friday, hitting $7.07. The company's stock had a trading volume of 7,206,993 shares, compared to its average volume of 12,326,094. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The firm's fifty day moving average price is $9.39 and its 200-day moving average price is $12.73. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -1.31 and a beta of 6.80.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to the consensus estimate of $97.07 million. As a group, equities analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

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Insider Activity at Core Scientific

In other news, Director Jordan Levy bought 62,500 shares of the stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, with a total value of $500,625.00. Following the acquisition, the director now directly owns 306,887 shares in the company, valued at approximately $2,458,164.87. This trade represents a 25.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the sale, the chief executive officer now owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 530,041 shares of company stock worth $7,870,352. Company insiders own 32.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CORZ shares. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a research note on Wednesday, March 12th. Craig Hallum assumed coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They set a "buy" rating and a $24.00 price objective on the stock. Compass Point reduced their target price on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Needham & Company LLC dropped their price target on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Cantor Fitzgerald reduced their price objective on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $19.07.

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.