Intech Investment Management LLC Takes $315,000 Position in Core Scientific, Inc. (NASDAQ:CORZ)

Intech Investment Management LLC purchased a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 26,593 shares of the company’s stock, valued at approximately $315,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in Core Scientific in the second quarter worth about $28,000. Sunbelt Securities Inc. purchased a new position in shares of Core Scientific during the 2nd quarter worth $33,000. Rise Advisors LLC lifted its stake in shares of Core Scientific by 14.3% during the 3rd 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 in the last quarter. Divisadero Street Capital Management LP purchased a new position in shares of Core Scientific during the 2nd quarter valued at $93,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Core Scientific during the 3rd quarter valued at $119,000.

Insider Buying and Selling at Core Scientific

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

Analyst Ratings Changes

A number of brokerages have issued reports on CORZ. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a report on Thursday, October 3rd. HC Wainwright lifted their price target on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Core Scientific in a research report on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective for the company. Needham & Company LLC upped their price target on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, BTIG Research boosted their price objective on shares of Core Scientific from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and an average target price of $18.38.

Core Scientific Stock Up 6.4 %

CORZ opened at $17.47 on Thursday. The company has a market cap of $4.88 billion and a price-to-earnings ratio of -3.23. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.63. The firm’s fifty day simple moving average is $14.52 and its two-hundred day simple moving average is $11.13.

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.