Stephens Inc. AR Makes New Investment in Core Scientific, Inc. (NASDAQ:CORZ)

Stephens Inc. AR purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 65,972 shares of the company's stock, valued at approximately $927,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. KBC Group NV acquired a new stake in shares of Core Scientific during the fourth quarter worth $114,000. Arkadios Wealth Advisors purchased a new position in Core Scientific in the 3rd quarter worth about $119,000. Sanctuary Advisors LLC acquired a new stake in Core Scientific during the 2nd quarter worth about $140,000. Duncan Williams Asset Management LLC purchased a new stake in Core Scientific during the fourth quarter valued at about $141,000. Finally, OLD National Bancorp IN purchased a new stake in Core Scientific during the third quarter valued at about $164,000.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 25,000 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Yadin Rozov sold 105,000 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were 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 trade represents a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 744,032 shares of company stock worth $11,863,966 in the last 90 days. 32.00% of the stock is owned by insiders.

Core Scientific Price Performance

CORZ traded down $0.03 during midday trading on Monday, hitting $12.51. 4,093,882 shares of the company's stock traded hands, compared to its average volume of 12,171,637. The company has a market cap of $3.49 billion and a PE ratio of -2.31. The stock's fifty day simple moving average is $14.00 and its 200-day simple moving average is $13.23. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.

Wall Street Analyst Weigh In

CORZ has been the topic of a number of recent analyst reports. Compass Point boosted their price target 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. Canaccord Genuity Group reissued a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. Craig Hallum began coverage on Core Scientific in a research report on Tuesday, January 21st. They issued a "buy" rating and a $24.00 target price for the company. HC Wainwright lifted 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. Finally, Jefferies Financial Group began coverage on Core Scientific in a research note on Monday, October 28th. They issued a "buy" rating and a $19.00 price objective for the company. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $19.07.

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.