HighTower Advisors LLC Decreases Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

HighTower Advisors LLC trimmed its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 45.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,886 shares of the company’s stock after selling 14,258 shares during the quarter. HighTower Advisors LLC’s holdings in Core Scientific were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CORZ. ORG Wealth Partners LLC bought a new position in shares of Core Scientific during the 3rd quarter valued at approximately $106,266,000. Taconic Capital Advisors LP grew its holdings in Core Scientific by 178.7% during the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after purchasing an additional 1,742,462 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in Core Scientific in the third quarter worth $18,383,000. Van ECK Associates Corp bought a new position in Core Scientific in the 2nd quarter worth about $12,239,000. Finally, Summit Trail Advisors LLC bought a new position in shares of Core Scientific during the 2nd quarter worth $6,455,000.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the sale, the insider now directly owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This trade represents a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the firm’s 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 owns 345,239 shares in the company, valued at approximately $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 32.00% of the company’s stock.

Core Scientific Price Performance

CORZ stock opened at $14.96 on Thursday. The company has a 50-day moving average of $15.42 and a two-hundred day moving average of $12.18. The stock has a market capitalization of $4.18 billion and a price-to-earnings ratio of -2.77. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.63.

Analyst Upgrades and Downgrades

Several research firms have commented on CORZ. Canaccord Genuity Group began coverage on shares of Core Scientific in a research report on Monday, September 23rd. They set a “buy” rating and a $16.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Thursday, November 7th. HC Wainwright raised their price target on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their target price on Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group started coverage on Core Scientific in a research note on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of “Buy” and a consensus target price of $18.46.

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.