Y Intercept Hong Kong Ltd Acquires New Shares in Core Scientific, Inc. (NASDAQ:CORZ)

Y Intercept Hong Kong Ltd purchased a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 123,039 shares of the company's stock, valued at approximately $1,459,000.

Several other institutional investors have also modified their holdings of CORZ. ORG Wealth Partners LLC acquired a new position in shares of Core Scientific in the third quarter worth about $106,266,000. Rush Island Management LP acquired a new position in shares of Core Scientific in the third quarter worth about $32,221,000. Taconic Capital Advisors LP raised its stake in Core Scientific by 178.7% during the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company's stock valued at $32,229,000 after buying an additional 1,742,462 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in Core Scientific during the third quarter valued at approximately $18,383,000. Finally, Van ECK Associates Corp acquired a new stake in Core Scientific during the second quarter valued at approximately $12,239,000.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the completion of the sale, the insider now owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yadin Rozov sold 105,000 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total value of $1,901,550.00. Following the completion of the sale, the director now directly 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 currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CORZ. B. Riley upped their price objective on Core Scientific from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Compass Point upped their price objective on Core Scientific from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group began coverage on Core Scientific in a research note on Monday, September 23rd. They set a "buy" rating and a $16.00 price objective on the stock. Roth Capital upgraded Core Scientific to a "strong-buy" rating in a research note on Thursday, November 14th. Finally, HC Wainwright upped their price objective on Core Scientific from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $18.38.

Core Scientific Price Performance

CORZ stock traded up $0.08 on Wednesday, reaching $15.86. The company's stock had a trading volume of 8,427,720 shares, compared to its average volume of 9,080,023. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63. The company has a market capitalization of $4.43 billion and a P/E ratio of -2.93. The firm has a fifty day moving average of $14.94 and a two-hundred day moving average of $11.56.

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.