State Street Corp Purchases 583,493 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

State Street Corp grew its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 17.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,006,922 shares of the company's stock after purchasing an additional 583,493 shares during the quarter. State Street Corp owned about 1.43% of Core Scientific worth $47,522,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Calamos Advisors LLC bought a new position in Core Scientific in the 2nd quarter worth approximately $294,000. Bank of New York Mellon Corp increased its position in Core Scientific by 3,236.0% during the second quarter. Bank of New York Mellon Corp now owns 674,043 shares of the company's stock worth $6,269,000 after acquiring an additional 653,838 shares during the period. Legato Capital Management LLC bought a new position in Core Scientific during the second quarter worth $329,000. Cambridge Investment Research Advisors Inc. acquired a new position in Core Scientific during the 2nd quarter valued at $2,324,000. Finally, 1900 Wealth Management LLC bought a new stake in Core Scientific in the 2nd quarter valued at $516,000.

Core Scientific Stock Down 2.4 %

NASDAQ:CORZ traded down $0.35 on Friday, reaching $14.13. The stock had a trading volume of 19,436,916 shares, compared to its average volume of 9,173,451. The company has a market capitalization of $3.95 billion and a P/E ratio of -2.61. The stock has a fifty day moving average price of $15.34 and a 200-day moving average price of $11.95. Core Scientific, Inc. has a 1-year low of $2.61 and a 1-year high of $18.63.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CORZ shares. Roth Capital upgraded shares of Core Scientific to a "strong-buy" rating in a report on Thursday, November 14th. HC Wainwright upped their price target on Core Scientific from $15.00 to $17.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $20.00 price objective on shares of Core Scientific in a research report on Thursday, October 3rd. Canaccord Genuity Group started coverage on Core Scientific in a research report on Monday, September 23rd. They set a "buy" rating and a $16.00 price objective on the stock. Finally, Macquarie raised 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, November 14th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $18.46.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 25,000 shares of Core Scientific 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the company's stock in a transaction dated 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 transaction, the director now owns 345,239 shares in the company, valued at approximately $6,252,278.29. This trade represents a 23.32 % decrease in their position. The disclosure for this sale can be found here. 32.00% of the stock is owned by company insiders.

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.