Point72 Asset Management L.P. Increases Stock Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Point72 Asset Management L.P. boosted its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 27.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 579,735 shares of the company's stock after purchasing an additional 125,810 shares during the period. Point72 Asset Management L.P. owned about 0.21% of Core Scientific worth $6,876,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Banque Cantonale Vaudoise bought a new position in Core Scientific during the 2nd quarter valued at approximately $28,000. Sunbelt Securities Inc. bought a new position in shares of Core Scientific during the second quarter valued at approximately $33,000. Rise Advisors LLC lifted its stake in Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company's stock worth $95,000 after acquiring an additional 1,000 shares during the period. Divisadero Street Capital Management LP bought a new stake in Core Scientific in the second quarter valued at $93,000. Finally, Arkadios Wealth Advisors purchased a new position in Core Scientific during the 3rd quarter valued at $119,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CORZ shares. HC Wainwright raised their target price on shares of Core Scientific from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Core Scientific in a report on Monday, October 28th. They issued a "buy" rating and a $19.00 price objective for the company. B. Riley upped their target price on Core Scientific from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $20.00 target price on shares of Core Scientific in a research note on Thursday, October 3rd. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, September 10th. Thirteen equities research 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, Core Scientific currently has an average rating of "Buy" and an average price target of $18.38.

Core Scientific Stock Performance

Shares of CORZ traded down $1.05 during trading hours on Monday, hitting $15.94. The company had a trading volume of 6,113,035 shares, compared to its average volume of 9,072,438. The stock has a market capitalization of $4.45 billion and a price-to-earnings ratio of -3.06. The firm has a fifty day moving average price of $14.70 and a 200-day moving average price of $11.37. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.63.

Insider Transactions at Core Scientific

In other news, 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 transaction 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 trade represents a 1.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the completion of the sale, the director now owns 345,239 shares of the company's stock, valued at $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 32.00% of the company's stock.

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.