Corient Private Wealth LLC Invests $1.41 Million in Core Scientific, Inc. (NASDAQ:CORZ)

Corient Private Wealth LLC acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 100,402 shares of the company’s stock, valued at approximately $1,411,000.

Other large investors also recently modified their holdings of the company. Rush Island Management LP bought a new stake in Core Scientific during the third quarter valued at about $32,221,000. Taconic Capital Advisors LP lifted its holdings in shares of Core Scientific by 178.7% in the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after acquiring an additional 1,742,462 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after purchasing an additional 1,113,285 shares during the period. Whitefort Capital Management LP boosted its stake in Core Scientific by 337.1% during the third quarter. Whitefort Capital Management LP now owns 1,147,500 shares of the company’s stock worth $13,609,000 after buying an additional 885,000 shares during the period. Finally, Heritage Oak Wealth Advisors LLC purchased a new position in shares of Core Scientific during the 4th quarter worth about $10,301,000.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Compass Point dropped their price objective on Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Craig Hallum assumed coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target for the company. Keefe, Bruyette & Woods started coverage on Core Scientific in a report on Monday, January 27th. They issued an “outperform” rating and a $22.00 price target for the company. Cantor Fitzgerald reduced their price objective on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a report on Tuesday, March 11th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Core Scientific presently has a consensus rating of “Buy” and a consensus target price of $19.07.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 129,861 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the transaction, the insider now directly owns 2,051,649 shares of the company’s stock, valued at $29,215,481.76. This represents a 5.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Todd A. Becker sold 134,250 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.75, for a total value of $1,443,187.50. Following the completion of the sale, the director now owns 195,687 shares of the company’s stock, valued at approximately $2,103,635.25. This trade represents a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 748,282 shares of company stock valued at $10,978,104. Corporate insiders own 32.00% of the company’s stock.

Core Scientific Stock Performance

CORZ stock opened at $8.66 on Wednesday. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -1.60 and a beta of 6.83. The firm has a 50-day simple moving average of $11.31 and a two-hundred day simple moving average of $13.17.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. The firm had revenue of $94.93 million for the quarter, compared to the consensus estimate of $97.07 million. As a group, equities analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

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.