Titleist Asset Management LLC decreased its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 44.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,725 shares of the company's stock after selling 81,626 shares during the quarter. Titleist Asset Management LLC's holdings in Core Scientific were worth $1,429,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Shields & Co. LLC purchased a new position in Core Scientific in the 4th quarter valued at $26,000. First Horizon Advisors Inc. purchased a new position in shares of Core Scientific in the fourth quarter worth about $34,000. Newbridge Financial Services Group Inc. acquired a new position in Core Scientific during the fourth quarter worth about $42,000. Vestcor Inc acquired a new position in Core Scientific during the fourth quarter worth about $66,000. Finally, US Bancorp DE acquired a new stake in Core Scientific in the 4th quarter valued at about $99,000.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Canaccord Genuity Group restated a "buy" rating and set a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. BTIG Research boosted their price objective on Core Scientific from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. Cantor Fitzgerald dropped their target price on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Needham & Company LLC cut their target price on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Compass Point lowered their price target on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $19.07.
Read Our Latest Report on Core Scientific
Insider Activity
In related news, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $6,004,122.88. Following the completion of the transaction, the chief executive officer now owns 3,758,793 shares in the company, valued at $61,042,798.32. The trade was a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jordan Levy acquired 62,500 shares of the company's stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the transaction, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. The trade was 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 worth $7,870,352. 32.00% of the stock is currently owned by company insiders.
Core Scientific Stock Up 2.9 %
NASDAQ:CORZ traded up $0.20 during trading hours on Friday, reaching $7.02. 3,041,679 shares of the stock were exchanged, compared to its average volume of 12,265,098. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The business has a 50-day moving average of $9.49 and a two-hundred day moving average of $12.76. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -1.30 and a beta of 6.80.
Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analysts' expectations of $97.07 million. On average, research analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.
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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