CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 60,000 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 21.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 220,000 shares of the company's stock after selling 60,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.08% of Core Scientific worth $3,091,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Exchange Traded Concepts LLC grew its stake in shares of Core Scientific by 27.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 629,329 shares of the company's stock valued at $8,842,000 after buying an additional 136,212 shares during the period. Red Door Wealth Management LLC grew its stake in Core Scientific by 124.3% in the fourth quarter. Red Door Wealth Management LLC now owns 95,378 shares of the company's stock valued at $1,340,000 after acquiring an additional 52,851 shares during the period. Shikiar Asset Management Inc. increased its holdings in shares of Core Scientific by 27.0% during the fourth quarter. Shikiar Asset Management Inc. now owns 95,250 shares of the company's stock valued at $1,338,000 after acquiring an additional 20,250 shares in the last quarter. FNY Investment Advisers LLC raised its position in shares of Core Scientific by 35.8% during the fourth quarter. FNY Investment Advisers LLC now owns 190,747 shares of the company's stock worth $2,679,000 after purchasing an additional 50,275 shares during the period. Finally, ORG Wealth Partners LLC lifted its holdings in shares of Core Scientific by 0.3% in the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company's stock worth $126,262,000 after purchasing an additional 26,649 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 129,861 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the completion of the transaction, the insider now owns 2,051,649 shares of the company's stock, valued at approximately $29,215,481.76. The trade was a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the completion of the sale, the director now directly owns 345,239 shares in the company, valued at $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 349,043 shares of company stock worth $5,449,345 in the last three months. 32.00% of the stock is currently owned by corporate insiders.

Core Scientific Stock Performance

NASDAQ CORZ traded down $0.36 on Friday, hitting $15.98. 7,341,216 shares of the stock traded hands, compared to its average volume of 6,601,615. The business's fifty day moving average is $15.56 and its two-hundred day moving average is $12.96. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The firm has a market capitalization of $4.46 billion and a price-to-earnings ratio of -2.95.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). The company had revenue of $95.35 million for the quarter, compared to the consensus estimate of $94.80 million. Analysts expect that Core Scientific, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CORZ has been the subject of a number of recent research reports. Craig Hallum assumed coverage on shares of Core Scientific in a research note on Tuesday. They set a "buy" rating and a $24.00 price target for the company. Canaccord Genuity Group reissued a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Thursday, November 7th. HC Wainwright raised their price target on shares of Core Scientific from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a "buy" rating and set a $18.00 price objective on shares of Core Scientific in a report on Friday, January 17th. Finally, BTIG Research increased their price objective on Core Scientific from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $18.86.

About Core Scientific

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.