100,402 Shares in Core Scientific, Inc. (NASDAQ:CORZ) Bought by Corient Private Wealth LLC

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

Several other institutional investors have also recently modified their holdings of CORZ. Wellington Shields & Co. LLC purchased a new stake in Core Scientific in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. purchased a new stake in shares of Core Scientific in the 4th quarter valued at $34,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Core Scientific in the fourth quarter worth $42,000. Vestcor Inc purchased a new position in shares of Core Scientific during the fourth quarter worth $66,000. Finally, US Bancorp DE acquired a new position in Core Scientific during the fourth quarter valued at $99,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CORZ. Cantor Fitzgerald cut their price target on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Keefe, Bruyette & Woods began coverage on Core Scientific in a report on Monday, January 27th. They set an “outperform” rating and a $22.00 target price on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Wednesday, March 12th. BTIG Research upped their price objective on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Compass Point dropped their price objective on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $19.07.

Insiders Place Their Bets

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the sale, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at $61,042,798.32. The trade was a 8.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jordan Levy bought 62,500 shares of Core Scientific stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, with a total value of $500,625.00. Following the completion of the transaction, the director now directly owns 306,887 shares of the company’s stock, valued at approximately $2,458,164.87. The trade was a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 748,282 shares of company stock worth $10,978,104. Corporate insiders own 32.00% of the company’s stock.

Core Scientific Stock Performance

NASDAQ:CORZ opened at $8.66 on Wednesday. The stock has a market capitalization of $2.55 billion, a PE ratio of -1.60 and a beta of 6.83. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The company has a fifty day moving average of $11.31 and a two-hundred day moving average of $13.17.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to analysts’ expectations of $97.07 million. Research analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Core Scientific 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.