Regal Partners Ltd Increases Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Regal Partners Ltd lifted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 71.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 996,551 shares of the company's stock after purchasing an additional 415,363 shares during the period. Core Scientific accounts for about 1.0% of Regal Partners Ltd's portfolio, making the stock its 27th largest holding. Regal Partners Ltd owned approximately 0.39% of Core Scientific worth $11,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of Core Scientific by 41.5% in the 3rd quarter. Victory Capital Management Inc. now owns 26,633 shares of the company's stock valued at $316,000 after acquiring an additional 7,814 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Core Scientific in the 3rd quarter valued at $890,000. Harvest Portfolios Group Inc. grew its holdings in shares of Core Scientific by 10.1% during the third quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company's stock worth $663,000 after purchasing an additional 5,109 shares during the last quarter. Van ECK Associates Corp increased its position in Core Scientific by 22.9% during the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company's stock worth $19,177,000 after buying an additional 300,942 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Core Scientific by 96.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 78,077 shares of the company's stock valued at $926,000 after acquiring an additional 38,292 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Compass Point upped their target price on shares of Core Scientific from $18.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Macquarie boosted their target price on Core Scientific from $16.00 to $19.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Canaccord Genuity Group started coverage on Core Scientific in a research note on Monday, September 23rd. They set a "buy" rating and a $16.00 target price for the company. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $17.46.

Insider Transactions at Core Scientific

In other news, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction on 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 purchase, the director now owns 285,760 shares of the company's stock, valued at approximately $2,766,156.80. The trade was a 1.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Todd M. Duchene sold 11,582 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.41, for a total value of $108,986.62. Following the transaction, the insider now directly owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 12,761 shares of company stock valued at $127,080 over the last three months. 32.00% of the stock is currently owned by insiders.

Core Scientific Stock Down 4.3 %

Shares of CORZ traded down $0.69 during mid-day trading on Thursday, reaching $15.44. 5,975,381 shares of the company's stock were exchanged, compared to its average volume of 8,896,419. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.03. The company has a 50-day simple moving average of $12.76 and a two-hundred day simple moving average of $9.72. The company has a market cap of $4.31 billion and a price-to-earnings ratio of -2.85.

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.