ORG Wealth Partners LLC Acquires New Position in Core Scientific, Inc. (NASDAQ:CORZ)

ORG Wealth Partners LLC acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,960,002 shares of the company's stock, valued at approximately $106,266,000. Core Scientific comprises about 39.8% of ORG Wealth Partners LLC's portfolio, making the stock its biggest position. ORG Wealth Partners LLC owned about 3.47% of Core Scientific as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CORZ. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific in the second quarter valued at $28,000. Aspect Partners LLC purchased a new stake in shares of Core Scientific in the first quarter worth about $29,000. Sunbelt Securities Inc. bought a new position in shares of Core Scientific in the second quarter valued at approximately $33,000. Hexagon Capital Partners LLC bought a new stake in Core Scientific during the 1st quarter worth approximately $34,000. Finally, Rise Advisors LLC purchased a new stake in Core Scientific in the 2nd quarter worth approximately $65,000.

Core Scientific Price Performance

CORZ traded down $0.25 on Monday, hitting $12.97. 12,893,676 shares of the company were exchanged, compared to its average volume of 8,581,288. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $13.42. The firm has a fifty day simple moving average of $10.80 and a two-hundred day simple moving average of $8.00.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($4.47). The business had revenue of $141.10 million for the quarter, compared to analysts' expectations of $128.58 million. The business's revenue was up 11.2% on a year-over-year basis. As a group, analysts predict that Core Scientific, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling at Core Scientific

In related news, Director Jarrod M. Patten bought 5,021 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $9.68 per share, with a total value of $48,603.28. Following the transaction, the director now owns 285,760 shares in the company, valued at approximately $2,766,156.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the purchase, the director now directly owns 285,760 shares in the company, valued at $2,766,156.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jarrod M. Patten purchased 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average price of $9.70 per share, with a total value of $38,800.00. Following the completion of the purchase, the director now owns 279,239 shares in the company, valued at $2,708,618.30. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 12,761 shares of company stock valued at $127,080 in the last 90 days. Insiders own 32.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. LADENBURG THALM/SH SH reaffirmed a "buy" rating and issued a $14.50 price target on shares of Core Scientific in a report on Tuesday, July 2nd. B. Riley boosted their price objective on Core Scientific from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Friday. Canaccord Genuity Group started coverage on shares of Core Scientific in a research note on Monday, September 23rd. They issued a "buy" rating and a $16.00 price target for the company. BTIG Research lifted their price objective on shares of Core Scientific from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, June 26th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $16.00 target price on shares of Core Scientific in a research note on Friday. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Core Scientific has an average rating of "Buy" and a consensus price target of $15.27.

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.