Perigon Wealth Management LLC Lowers Stock Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Perigon Wealth Management LLC cut its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 31.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,992 shares of the company's stock after selling 47,937 shares during the quarter. Perigon Wealth Management LLC's holdings in Core Scientific were worth $1,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CORZ. Renaissance Technologies LLC bought a new position in shares of Core Scientific in the 2nd quarter worth about $2,213,000. Amalgamated Bank acquired a new position in Core Scientific in the second quarter valued at approximately $115,000. Xponance Inc. bought a new position in shares of Core Scientific during the 2nd quarter worth approximately $104,000. Marshall Wace LLP increased its stake in shares of Core Scientific by 284.9% in the 2nd quarter. Marshall Wace LLP now owns 444,983 shares of the company's stock valued at $4,138,000 after acquiring an additional 329,385 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Core Scientific during the 2nd quarter valued at $598,000.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the sale, the chief executive officer now owns 3,758,793 shares of the company's stock, valued at $61,042,798.32. This trade represents a 8.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Todd M. Duchene sold 25,000 shares of the business'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 transaction, the insider now directly owns 1,661,474 shares of the company's stock, valued at $28,411,205.40. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 744,032 shares of company stock valued at $11,863,966 in the last 90 days. 32.00% of the stock is currently owned by company insiders.

Core Scientific Trading Up 7.0 %

Shares of CORZ stock traded up $0.80 during trading hours on Thursday, hitting $12.26. 15,916,457 shares of the company were exchanged, compared to its average volume of 12,965,488. The firm has a fifty day simple moving average of $15.25 and a 200 day simple moving average of $13.02. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.63. The stock has a market capitalization of $3.42 billion and a price-to-earnings ratio of -2.27.

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

Wall Street Analysts Forecast Growth

CORZ has been the subject of several research analyst reports. Craig Hallum started coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price target for the company. Needham & Company LLC restated a "buy" rating and set a $18.00 price objective on shares of Core Scientific in a report on Friday, January 17th. B. Riley boosted their price target on shares of Core Scientific from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods started coverage on shares of Core Scientific in a research note on Monday. They issued an "outperform" rating and a $22.00 price objective on the stock. Finally, Compass Point upped their target price on shares of Core Scientific from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $19.07.

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.