Oppenheimer Asset Management Inc. Takes Position in Core Scientific, Inc. (NASDAQ:CORZ)

Oppenheimer Asset Management Inc. purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,366 shares of the company’s stock, valued at approximately $160,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CORZ. First Horizon Advisors Inc. acquired a new stake in shares of Core Scientific during the fourth quarter worth about $34,000. Newbridge Financial Services Group Inc. purchased a new stake in Core Scientific during the 4th quarter valued at approximately $42,000. KBC Group NV acquired a new stake in Core Scientific during the 4th quarter worth approximately $114,000. Villere ST Denis J & Co. LLC purchased a new position in shares of Core Scientific in the 4th quarter valued at approximately $140,000. Finally, Duncan Williams Asset Management LLC acquired a new position in shares of Core Scientific in the fourth quarter valued at approximately $141,000.

Core Scientific Stock Down 0.9 %

CORZ opened at $7.78 on Friday. The firm has a market cap of $2.29 billion, a PE ratio of -1.44 and a beta of 6.83. The business has a fifty day simple moving average of $12.65 and a 200-day simple moving average of $13.26. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) 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 analyst estimates of $97.07 million. On average, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In related news, CEO Adam Taylor Sullivan sold 369,712 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the transaction, the chief executive officer now directly owns 3,758,793 shares of the company’s stock, valued at approximately $61,042,798.32. This trade represents a 8.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jordan Levy acquired 62,500 shares of Core Scientific stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $8.01 per share, with a total value of $500,625.00. Following the completion of the purchase, the director now directly owns 306,887 shares of the company’s stock, valued at $2,458,164.87. The trade was a 25.57 % increase in their position. The disclosure for this purchase 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 owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on CORZ. Compass Point cut their price objective 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 stock a “buy” rating in a report on Monday, December 16th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a report on Thursday, February 27th. Craig Hallum started coverage on Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price on the stock. Finally, Macquarie raised their price target on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and a consensus target price of $19.07.

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.