Core Scientific, Inc. (NASDAQ:CORZ) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 183.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,904 shares of the company’s stock after buying an additional 31,018 shares during the quarter. HighTower Advisors LLC’s holdings in Core Scientific were worth $673,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CORZ. First Horizon Advisors Inc. acquired a new position in shares of Core Scientific during the 4th quarter worth $34,000. Joel Isaacson & Co. LLC grew its holdings in Core Scientific by 4.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock valued at $815,000 after buying an additional 2,500 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Core Scientific during the fourth quarter worth $42,000. Victory Capital Management Inc. increased its position in Core Scientific by 12.2% during the 4th quarter. Victory Capital Management Inc. now owns 29,890 shares of the company’s stock worth $420,000 after purchasing an additional 3,257 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in shares of Core Scientific by 17.0% during the fourth quarter. Vontobel Holding Ltd. now owns 44,566 shares of the company’s stock valued at $626,000 after buying an additional 6,477 shares during the period.

Core Scientific Price Performance

CORZ opened at $7.48 on Friday. The stock’s 50 day moving average price is $10.89 and its 200 day moving average price is $13.08. The stock has a market cap of $2.20 billion, a P/E ratio of -1.38 and a beta of 6.83. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. Equities analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of the company’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 completion of the sale, the chief executive officer now directly owns 3,758,793 shares in the company, valued at $61,042,798.32. This represents a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jordan Levy purchased 62,500 shares of the stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the transaction, the director now owns 306,887 shares in the company, valued at $2,458,164.87. This trade represents a 25.57 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 748,282 shares of company stock valued at $10,978,104. Company insiders own 32.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Craig Hallum began coverage on shares of Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Wednesday, March 12th. BTIG Research boosted their price objective on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Needham & Company LLC reduced their price objective on Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Compass Point dropped their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Fifteen 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 company has an average rating of “Buy” and an average price target 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.