Core Scientific, Inc. (NASDAQ:CORZ) Shares Bought by Taconic Capital Advisors LP

Taconic Capital Advisors LP raised its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 178.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,717,462 shares of the company's stock after buying an additional 1,742,462 shares during the quarter. Core Scientific comprises about 17.2% of Taconic Capital Advisors LP's investment portfolio, making the stock its 2nd biggest position. Taconic Capital Advisors LP owned about 0.97% of Core Scientific worth $32,229,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CORZ. Banque Cantonale Vaudoise acquired a new position in shares of Core Scientific in the second quarter valued at approximately $28,000. Sunbelt Securities Inc. acquired a new position in Core Scientific in the 2nd quarter valued at $33,000. Rise Advisors LLC purchased a new position in shares of Core Scientific during the 2nd quarter worth $65,000. Divisadero Street Capital Management LP acquired a new stake in shares of Core Scientific during the second quarter worth $93,000. Finally, Xponance Inc. purchased a new stake in shares of Core Scientific in the second quarter valued at $104,000.

Insiders Place Their Bets

In related news, insider Todd M. Duchene sold 25,000 shares of the business's 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 transaction, the insider now owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yadin Rozov sold 105,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now owns 345,239 shares of the company's stock, 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 Stock Performance

Shares of CORZ stock traded up $0.17 during trading hours on Friday, reaching $17.88. The company had a trading volume of 4,656,935 shares, compared to its average volume of 8,899,387. The company has a market capitalization of $4.99 billion and a P/E ratio of -3.30. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The stock's fifty day simple moving average is $14.27 and its 200 day simple moving average is $10.81.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Compass Point increased their target price on Core Scientific from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. HC Wainwright raised their target price on shares of Core Scientific from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Thursday, November 7th. BTIG Research lifted their price target on shares of Core Scientific from $15.00 to $19.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, Roth Mkm assumed coverage on Core Scientific in a report on Friday, November 15th. They set a "buy" rating and a $25.50 price objective for the company. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $18.38.

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.