Vontobel Holding Ltd. Boosts Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Vontobel Holding Ltd. grew its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 17.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 44,566 shares of the company’s stock after acquiring an additional 6,477 shares during the period. Vontobel Holding Ltd.’s holdings in Core Scientific were worth $626,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Core Scientific by 25.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock worth $1,378,000 after purchasing an additional 20,000 shares during the period. Highland Peak Capital LLC raised its stake in Core Scientific by 37.9% during the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after buying an additional 113,584 shares during the last quarter. Mirabella Financial Services LLP purchased a new position in Core Scientific during the third quarter valued at $18,383,000. Van ECK Associates Corp raised its stake in Core Scientific by 22.9% during the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after buying an additional 300,942 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its stake in Core Scientific by 113.4% during the third quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company’s stock valued at $652,000 after buying an additional 29,230 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CORZ shares. B. Riley boosted their price objective on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Core Scientific in a report on Friday, January 17th. Craig Hallum started coverage on Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective on the stock. Roth Mkm started coverage on Core Scientific in a research report on Friday, November 15th. They set a “buy” rating and a $25.50 price objective on the stock. Finally, Jefferies Financial Group started coverage on Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective on the stock. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific Stock Down 3.1 %

CORZ opened at $12.01 on Thursday. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63. The business has a fifty day simple moving average of $13.85 and a 200-day simple moving average of $13.25. The firm has a market cap of $3.35 billion and a P/E ratio of -2.22.

Insider Transactions at Core Scientific

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the completion of the sale, the chief executive officer now directly owns 3,758,793 shares of the company’s stock, valued at $61,042,798.32. The trade was a 8.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Todd M. Duchene sold 129,861 shares of the stock in a transaction that occurred on 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. This represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 719,032 shares of company stock valued at $11,436,466.

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.