Charles Schwab Investment Management Inc. Has $22.92 Million Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 44.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,932,462 shares of the company’s stock after acquiring an additional 590,946 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Core Scientific were worth $22,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new stake in Core Scientific during the 2nd quarter valued at $28,000. Sunbelt Securities Inc. acquired a new stake in shares of Core Scientific during the 2nd quarter worth about $33,000. Divisadero Street Capital Management LP acquired a new stake in shares of Core Scientific during the 2nd quarter worth about $93,000. Rise Advisors LLC boosted its holdings 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 worth $95,000 after buying an additional 1,000 shares during the period. Finally, Xponance Inc. acquired a new position in Core Scientific in the 2nd quarter valued at about $104,000.

Analysts Set New Price Targets

CORZ has been the subject of several research reports. Sanford C. Bernstein reissued an “outperform” rating and set a $17.00 price target on shares of Core Scientific in a report on Tuesday, September 10th. B. Riley lifted their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Thursday, November 7th. Compass Point lifted their price objective on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Core Scientific in a report on Thursday, October 3rd. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $18.38.

Core Scientific Stock Performance

NASDAQ CORZ opened at $16.94 on Friday. The company has a market capitalization of $4.73 billion and a PE ratio of -3.13. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.63. The company has a 50-day simple moving average of $14.61 and a 200 day simple moving average of $11.18.

Insider Activity

In other news, insider Todd M. Duchene sold 25,000 shares of Core Scientific stock in a transaction dated Wednesday, November 20th. The stock was 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 in the company, valued at approximately $28,411,205.40. This trade represents a 1.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the sale, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. This represents a 23.32 % 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.

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.