Core Scientific, Inc. (NASDAQ:CORZ) Holdings Lowered by Scotia Capital Inc.

Scotia Capital Inc. reduced its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 83.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,735 shares of the company's stock after selling 59,993 shares during the period. Scotia Capital Inc.'s holdings in Core Scientific were worth $165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CORZ. Wellington Shields & Co. LLC acquired a new stake in shares of Core Scientific in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. purchased a new position in Core Scientific during the 4th quarter worth $34,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Core Scientific in the fourth quarter valued at about $42,000. Vestcor Inc purchased a new stake in shares of Core Scientific in the fourth quarter valued at about $66,000. Finally, US Bancorp DE acquired a new stake in shares of Core Scientific during the fourth quarter worth about $99,000.

Wall Street Analyst Weigh In

Several analysts have commented on CORZ shares. Craig Hallum assumed coverage on Core Scientific in a research note on Tuesday, January 21st. They set a "buy" rating and a $24.00 price objective for the company. HC Wainwright reiterated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research note on Tuesday, March 11th. Needham & Company LLC dropped their target price on Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Cantor Fitzgerald reduced their price target on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $19.07.

Core Scientific Trading Up 0.6 %

Shares of NASDAQ CORZ traded up $0.04 during midday trading on Friday, reaching $6.63. 9,748,300 shares of the stock were exchanged, compared to its average volume of 12,485,531. The company has a market capitalization of $1.96 billion, a P/E ratio of -1.23 and a beta of 6.80. The stock has a 50 day moving average price of $8.81 and a 200-day moving average price of $12.54. Core Scientific, Inc. has a 52-week low of $2.86 and a 52-week high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to analysts' expectations of $97.07 million. On average, analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the sale, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. The trade was a 40.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jordan Levy purchased 62,500 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $8.01 per share, with a total value of $500,625.00. Following the transaction, the director now directly owns 306,887 shares of the company's stock, valued at approximately $2,458,164.87. This represents a 25.57 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 530,041 shares of company stock valued at $7,870,352. 1.40% of the stock is currently owned by corporate insiders.

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.