Fmr LLC Invests $2.90 Million in Core Scientific, Inc. (NASDAQ:CORZ)

FMR LLC purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 244,801 shares of the company's stock, valued at approximately $2,903,000. FMR LLC owned about 0.09% of Core Scientific at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in shares of Core Scientific in the third quarter valued at $106,266,000. Mirabella Financial Services LLP acquired a new stake in Core Scientific in the 3rd quarter worth about $18,383,000. Van ECK Associates Corp purchased a new stake in Core Scientific in the 2nd quarter valued at about $12,239,000. Summit Trail Advisors LLC acquired a new position in shares of Core Scientific during the 2nd quarter valued at about $6,455,000. Finally, Bank of New York Mellon Corp increased its stake in shares of 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 valued at $6,269,000 after acquiring an additional 653,838 shares during the last quarter.

Insider Buying and Selling

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the business'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 owns 345,239 shares in the company, valued at $6,252,278.29. The trade was a 23.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Todd M. Duchene sold 25,000 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the sale, the insider now owns 1,661,474 shares of the company's stock, valued at $28,411,205.40. This represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Roth Capital raised shares of Core Scientific to a "strong-buy" rating in a research report on Thursday, November 14th. Roth Mkm assumed coverage on shares of Core Scientific in a report on Friday, November 15th. They issued a "buy" rating and a $25.50 price target on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $20.00 price objective on shares of Core Scientific in a report on Thursday, October 3rd. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $17.00 target price on shares of Core Scientific in a research report on Tuesday, September 10th. Finally, Canaccord Genuity Group started coverage on Core Scientific in a research report on Monday, September 23rd. They set a "buy" rating and a $16.00 price target for the company. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $18.38.

Core Scientific Stock Performance

Shares of CORZ stock traded up $0.01 during trading hours on Friday, reaching $15.55. The company had a trading volume of 6,360,366 shares, compared to its average volume of 9,054,852. The company has a market capitalization of $4.34 billion and a P/E ratio of -2.87. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The stock's fifty day simple moving average is $15.08 and its 200 day simple moving average is $11.75.

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.