Core Scientific, Inc. (NASDAQ:CORZ) Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 26.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,276,573 shares of the company's stock after purchasing an additional 1,113,285 shares during the quarter. Geode Capital Management LLC owned about 1.89% of Core Scientific worth $62,594,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CORZ. P Schoenfeld Asset Management LP acquired a new stake in shares of Core Scientific during the second quarter worth $4,185,000. Highland Peak Capital LLC raised its position in Core Scientific by 37.9% during the 3rd quarter. Highland Peak Capital LLC now owns 413,584 shares of the company's stock worth $4,905,000 after buying an additional 113,584 shares during the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of Core Scientific in the 3rd quarter worth $18,383,000. Van ECK Associates Corp boosted its holdings in shares of Core Scientific by 22.9% in the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company's stock valued at $19,177,000 after acquiring an additional 300,942 shares in the last quarter. Finally, Capstone Investment Advisors LLC increased its stake in shares of Core Scientific by 113.4% during the third quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company's stock worth $652,000 after acquiring an additional 29,230 shares during the period.

Core Scientific Stock Down 2.4 %

Shares of Core Scientific stock traded down $0.35 during trading on Friday, hitting $14.13. 19,436,916 shares of the company were exchanged, compared to its average volume of 9,173,451. The firm has a 50 day moving average price of $15.36 and a 200 day moving average price of $12.08. The stock has a market capitalization of $3.95 billion and a price-to-earnings ratio of -2.61. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63.

Insiders Place Their Bets

In related news, Director Yadin Rozov sold 105,000 shares of the stock in a transaction on Friday, November 22nd. The stock was 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 25,000 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CORZ shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $20.00 price objective on shares of Core Scientific in a report on Thursday, October 3rd. HC Wainwright lifted their price target on Core Scientific from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. 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 research report on Monday, December 16th. Finally, Compass Point upped their price target on shares of Core Scientific from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $18.46.

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.