Geode Capital Management LLC Grows Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Geode Capital Management LLC boosted its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 26.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,276,573 shares of the company’s stock after buying an additional 1,113,285 shares during the quarter. Geode Capital Management LLC owned 1.89% of Core Scientific worth $62,594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific during the 2nd quarter worth about $28,000. Sunbelt Securities Inc. purchased a new position in shares of Core Scientific during the second quarter valued at approximately $33,000. Divisadero Street Capital Management LP bought a new position in shares of Core Scientific during the second quarter valued at approximately $93,000. Rise Advisors LLC grew its stake in shares of Core Scientific by 14.3% during the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after buying an additional 1,000 shares during the last quarter. Finally, Xponance Inc. purchased a new stake in shares of Core Scientific in the second quarter worth approximately $104,000.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CORZ shares. Jefferies Financial Group initiated coverage on Core Scientific in a report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. Roth Mkm assumed coverage on shares of Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price objective for the company. Macquarie upped their target price on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, B. Riley lifted their price target on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.46.

Core Scientific Price Performance

Shares of CORZ stock opened at $14.13 on Friday. The stock’s 50-day moving average is $15.36 and its 200 day moving average is $12.05. Core Scientific, Inc. has a 1-year low of $2.61 and a 1-year high of $18.63. The company has a market cap of $3.95 billion and a P/E ratio of -2.61.

Insider Buying and Selling at Core Scientific

In other news, Director Yadin Rozov sold 105,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the transaction, the director now directly owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total value of $427,500.00. Following the completion of the sale, the insider now directly owns 1,661,474 shares of the company’s stock, valued at $28,411,205.40. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 32.00% of the company’s stock.

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.