Sage Mountain Advisors LLC Purchases Shares of 14,811 Core Scientific, Inc. (NASDAQ:CORZ)

Sage Mountain Advisors LLC purchased a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, Holdings Channel reports. The firm purchased 14,811 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CORZ. Arizona State Retirement System grew its stake in shares of Core Scientific by 46.4% in the 4th quarter. Arizona State Retirement System now owns 56,190 shares of the company’s stock worth $789,000 after acquiring an additional 17,797 shares in the last quarter. Deuterium Capital Management LLC grew its stake in shares of Core Scientific by 58.9% in the 4th quarter. Deuterium Capital Management LLC now owns 190,723 shares of the company’s stock worth $2,717,000 after acquiring an additional 70,723 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Core Scientific by 12.2% in the 4th quarter. Victory Capital Management Inc. now owns 29,890 shares of the company’s stock worth $420,000 after acquiring an additional 3,257 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Core Scientific by 23.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,392,092 shares of the company’s stock worth $33,609,000 after acquiring an additional 459,630 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Core Scientific in the 4th quarter worth $124,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on CORZ shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Thursday, February 27th. Cantor Fitzgerald reduced their target price on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Compass Point reduced their price target on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. BTIG Research increased their price target on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Macquarie increased their price target on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $19.07.

Core Scientific Stock Up 3.7 %

NASDAQ CORZ opened at $8.95 on Thursday. The company has a market cap of $2.63 billion, a PE ratio of -1.65 and a beta of 6.83. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63. The firm’s 50-day simple moving average is $12.32 and its two-hundred day simple moving average is $13.24.

Core Scientific (NASDAQ:CORZ) last announced 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 firm had revenue of $94.93 million during the quarter, compared to analysts’ expectations of $97.07 million. As a group, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Transactions at Core Scientific

In other news, CEO Adam Taylor Sullivan sold 88,380 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,258,531.20. Following the sale, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 25,277 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $410,498.48. Following the completion of the sale, the insider now directly owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 748,282 shares of company stock valued at $10,978,104. 32.00% of the stock is currently owned by corporate insiders.

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.