Core Scientific, Inc. (NASDAQ:CORZ) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 27.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 629,329 shares of the company’s stock after buying an additional 136,212 shares during the period. Exchange Traded Concepts LLC’s holdings in Core Scientific were worth $8,842,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rise Advisors LLC lifted its position in Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after acquiring an additional 1,000 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Core Scientific in the 2nd quarter valued at about $33,000. Vontobel Holding Ltd. boosted its position in shares of Core Scientific by 10.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock valued at $452,000 after purchasing an additional 3,591 shares during the period. Harvest Portfolios Group Inc. grew its stake in Core Scientific by 10.1% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company’s stock worth $663,000 after buying an additional 5,109 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. grew its stake in Core Scientific by 25.4% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 30,725 shares of the company’s stock worth $364,000 after buying an additional 6,225 shares during the last quarter.

Insiders Place Their Bets

In other news, 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 transaction of $1,901,550.00. Following the completion of the transaction, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. This trade represents a 23.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of Core Scientific stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,849,220.64. Following the transaction, the insider now owns 2,051,649 shares of the company’s stock, valued at $29,215,481.76. This represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 349,043 shares of company stock worth $5,449,345. 32.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on CORZ. B. Riley increased their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Compass Point increased their price target on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Core Scientific in a research note on Friday, January 17th. HC Wainwright increased their target price on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Craig Hallum initiated coverage on Core Scientific in a research report on Tuesday. They issued a “buy” rating and a $24.00 price target on the stock. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.86.

Core Scientific Stock Down 2.2 %

Shares of CORZ opened at $15.98 on Friday. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.63. The company has a 50-day simple moving average of $15.56 and a 200-day simple moving average of $12.96. The company has a market capitalization of $4.46 billion and a PE ratio of -2.95.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $95.35 million for the quarter, compared to the consensus estimate of $94.80 million. On average, research analysts anticipate that Core Scientific, Inc. will post 0.5 EPS for the current year.

Core Scientific Company 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.