Rush Island Management LP bought a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,716,800 shares of the company's stock, valued at approximately $32,221,000. Core Scientific comprises 2.5% of Rush Island Management LP's portfolio, making the stock its 14th biggest holding. Rush Island Management LP owned approximately 0.97% of Core Scientific as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CORZ. Point72 Asset Management L.P. lifted its stake in shares of Core Scientific by 27.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 579,735 shares of the company's stock valued at $6,876,000 after acquiring an additional 125,810 shares during the last quarter. Portolan Capital Management LLC acquired a new position in Core Scientific in the 3rd quarter worth about $6,546,000. Parsifal Capital Management LP raised its position in Core Scientific by 3.9% in the third quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company's stock valued at $64,196,000 after purchasing an additional 204,314 shares during the last quarter. Janus Henderson Group PLC bought a new position in Core Scientific in the third quarter valued at about $706,000. Finally, HighVista Strategies LLC acquired a new stake in shares of Core Scientific during the third quarter valued at about $1,575,000.
Insider Transactions at Core Scientific
In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total value of $1,901,550.00. Following the transaction, the director now owns 345,239 shares in the company, valued at approximately $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the sale, the insider now owns 1,661,474 shares of the company's stock, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 32.00% of the company's stock.
Core Scientific Trading Down 3.0 %
CORZ stock traded down $0.53 during mid-day trading on Thursday, reaching $16.94. The company's stock had a trading volume of 10,268,247 shares, compared to its average volume of 9,090,651. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The business's 50 day moving average price is $14.61 and its 200 day moving average price is $11.18. The company has a market cap of $4.73 billion and a price-to-earnings ratio of -3.13.
Analysts Set New Price Targets
Several research analysts have recently issued reports on CORZ shares. HC Wainwright upped their price objective on Core Scientific from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Compass Point raised their price target on shares of Core Scientific from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group reiterated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a report on Thursday, November 7th. Sanford C. Bernstein restated an "outperform" rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, September 10th. Finally, Jefferies Financial Group started coverage on Core Scientific in a report on Monday, October 28th. They set a "buy" rating and a $19.00 target price on the stock. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Core Scientific presently has a consensus rating of "Buy" and an average target price of $18.38.
View Our Latest Stock Analysis on Core Scientific
About Core Scientific
(
Free Report)
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.
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