Cibc World Markets Corp Invests $235,000 in Core Scientific, Inc. (NASDAQ:CORZ)

Cibc World Markets Corp purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 16,691 shares of the company’s stock, valued at approximately $235,000.

A number of other institutional investors have also added to or reduced their stakes in CORZ. Corient Private Wealth LLC bought a new stake in shares of Core Scientific during the fourth quarter valued at about $1,411,000. Natixis Advisors LLC grew its stake in Core Scientific by 345.0% during the fourth quarter. Natixis Advisors LLC now owns 94,573 shares of the company’s stock valued at $1,329,000 after acquiring an additional 73,319 shares in the last quarter. Picton Mahoney Asset Management increased its holdings in Core Scientific by 105.5% during the 4th quarter. Picton Mahoney Asset Management now owns 277,437 shares of the company’s stock worth $3,899,000 after acquiring an additional 142,437 shares during the period. Wellington Shields & Co. LLC purchased a new stake in Core Scientific in the 4th quarter worth approximately $26,000. Finally, Wellington Shields Capital Management LLC bought a new position in Core Scientific in the 4th quarter valued at $333,000.

Core Scientific Stock Performance

CORZ stock opened at $8.66 on Wednesday. The firm has a market cap of $2.55 billion, a P/E ratio of -1.60 and a beta of 6.83. The firm’s fifty day moving average is $11.31 and its 200 day moving average is $13.17. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63.

Core Scientific (NASDAQ:CORZ) last released 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 company had revenue of $94.93 million during the quarter, compared to analysts’ expectations of $97.07 million. As a group, analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CORZ. Craig Hallum initiated coverage on Core Scientific in a research report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price objective on the stock. Cantor Fitzgerald lowered their price target on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. BTIG Research lifted their price target on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a research report on Monday, January 27th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Compass Point dropped their target price 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. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $19.07.

Insiders Place Their Bets

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value 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. 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 available at the SEC website. Also, insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the completion of the transaction, the insider now owns 2,051,649 shares in the company, valued at $29,215,481.76. The trade was a 5.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 748,282 shares of company stock valued at $10,978,104 in the last ninety days. Company 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.