Van ECK Associates Corp Increases Position in Core Scientific, Inc. (NASDAQ:CORZ)

Van ECK Associates Corp boosted its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 26.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,039,718 shares of the company's stock after buying an additional 422,774 shares during the period. Van ECK Associates Corp owned approximately 0.73% of Core Scientific worth $28,658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CORZ. Newbridge Financial Services Group Inc. purchased a new position in Core Scientific in the 4th quarter valued at approximately $42,000. KBC Group NV purchased a new position in Core Scientific in the 4th quarter valued at approximately $114,000. Arkadios Wealth Advisors purchased a new position in Core Scientific in the 3rd quarter valued at approximately $119,000. Sanctuary Advisors LLC purchased a new position in Core Scientific in the 2nd quarter valued at approximately $140,000. Finally, Duncan Williams Asset Management LLC purchased a new position in Core Scientific in the 4th quarter valued at approximately $141,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. B. Riley boosted their price target on shares of Core Scientific from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an "outperform" rating and a $22.00 price target for the company. Roth Capital upgraded shares of Core Scientific to a "strong-buy" rating in a research report on Thursday, November 14th. 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 research report on Wednesday, October 23rd. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a report on Thursday, November 7th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $19.07.

Core Scientific Stock Down 0.3 %

Shares of NASDAQ:CORZ traded down $0.04 during midday trading on Tuesday, hitting $12.48. 2,989,213 shares of the stock traded hands, compared to its average volume of 10,712,893. The stock has a market capitalization of $3.48 billion and a PE ratio of -2.30. The business's 50 day moving average is $14.00 and its two-hundred day moving average is $13.23. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.

Insider Activity at Core Scientific

In related news, CEO Adam Taylor Sullivan sold 88,380 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the transaction, the chief executive officer now owns 4,128,505 shares in the company, valued at $58,789,911.20. The trade was a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following the transaction, the insider now owns 1,661,474 shares in the company, valued at $28,411,205.40. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 744,032 shares of company stock worth $11,863,966 over the last 90 days. 32.00% of the stock is owned by company insiders.

About Core Scientific

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.