CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Purchases Shares of 280,000 Core Scientific, Inc. (NASDAQ:CORZ)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 280,000 shares of the company's stock, valued at approximately $3,321,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.16% of Core Scientific at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. OLD National Bancorp IN bought a new stake in shares of Core Scientific during the 3rd quarter worth $164,000. Vontobel Holding Ltd. boosted its holdings in Core Scientific by 10.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company's stock valued at $452,000 after purchasing an additional 3,591 shares during the period. Aspect Partners LLC boosted its holdings in Core Scientific by 328.9% in the 3rd quarter. Aspect Partners LLC now owns 35,678 shares of the company's stock valued at $423,000 after purchasing an additional 27,360 shares during the period. Creative Planning boosted its holdings in Core Scientific by 88.0% in the 3rd quarter. Creative Planning now owns 32,925 shares of the company's stock valued at $389,000 after purchasing an additional 15,413 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in Core Scientific in the 3rd quarter valued at $106,266,000.

Insider Activity

In other news, insider Todd M. Duchene sold 11,582 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $108,986.62. Following the transaction, the insider now owns 1,686,474 shares of the company's stock, valued at approximately $15,869,720.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of Core Scientific stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $82,356.32. Following the transaction, the chief financial officer now owns 122,217 shares of the company's stock, valued at $1,150,061.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $108,986.62. Following the transaction, the insider now directly owns 1,686,474 shares in the company, valued at $15,869,720.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 12,761 shares of company stock valued at $127,080. 32.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CORZ. Needham & Company LLC began coverage on shares of Core Scientific in a report on Wednesday, September 4th. They set a "buy" rating and a $16.00 price objective for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $20.00 price objective on shares of Core Scientific in a report on Thursday, October 3rd. Canaccord Genuity Group began coverage on shares of Core Scientific in a report on Monday, September 23rd. They set a "buy" rating and a $16.00 price objective for the company. HC Wainwright raised their price objective on shares of Core Scientific from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, July 10th. Finally, LADENBURG THALM/SH SH reaffirmed a "buy" rating and set a $14.50 price objective on shares of Core Scientific in a report on Tuesday, July 2nd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $15.27.

Core Scientific Trading Up 6.9 %

CORZ traded up $0.89 during midday trading on Tuesday, hitting $13.72. The company had a trading volume of 25,995,928 shares, compared to its average volume of 8,669,905. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $14.01. The firm's 50-day simple moving average is $11.22 and its 200-day simple moving average is $8.40.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate 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 firm's revenue was up 11.2% on a year-over-year basis. As a group, equities analysts anticipate that Core Scientific, Inc. will post 0.01 earnings per share 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.