Corient Private Wealth LLC Purchases New Position in Core Scientific, Inc. (NASDAQ:CORZ)

Corient Private Wealth LLC purchased a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 100,402 shares of the company's stock, valued at approximately $1,411,000.

Several other hedge funds have also bought and sold shares of CORZ. Natixis Advisors LLC boosted its position in shares of Core Scientific by 345.0% in the fourth quarter. Natixis Advisors LLC now owns 94,573 shares of the company's stock worth $1,329,000 after purchasing an additional 73,319 shares during the period. Picton Mahoney Asset Management raised its position in shares of Core Scientific by 105.5% during the 4th quarter. Picton Mahoney Asset Management now owns 277,437 shares of the company's stock valued at $3,899,000 after purchasing an additional 142,437 shares during the period. Wellington Shields & Co. LLC purchased a new position in shares of Core Scientific during the 4th quarter valued at $26,000. Wellington Shields Capital Management LLC bought a new position in Core Scientific in the 4th quarter worth $333,000. Finally, Mercuria Capital Strategies LLC purchased a new stake in Core Scientific in the 4th quarter worth $2,459,000.

Analysts Set New Price Targets

CORZ has been the topic of several research analyst reports. Cantor Fitzgerald lowered their price objective on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Craig Hallum assumed coverage on Core Scientific in a report on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a report on Tuesday, March 11th. BTIG Research boosted their target price on shares of Core Scientific from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Finally, Keefe, Bruyette & Woods started coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an "outperform" rating and a $22.00 target price for the company. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Core Scientific currently has an average rating of "Buy" and a consensus price target of $19.07.

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Insider Activity at Core Scientific

In other Core Scientific news, Director Jordan Levy acquired 62,500 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price 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. The trade was a 25.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,849,220.64. Following the completion of the transaction, the insider now directly owns 2,051,649 shares in the company, valued at $29,215,481.76. This trade represents a 5.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 748,282 shares of company stock worth $10,978,104. Insiders own 32.00% of the company's stock.

Core Scientific Price Performance

Shares of Core Scientific stock traded down $0.40 during trading hours on Friday, reaching $7.48. The company's stock had a trading volume of 44,053,519 shares, compared to its average volume of 11,579,443. The stock has a market cap of $2.20 billion, a P/E ratio of -1.38 and a beta of 6.83. The firm has a 50 day moving average price of $10.89 and a 200-day moving average price of $13.10. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.

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

Core Scientific 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.