Rhumbline Advisers Acquires 6,495 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Rhumbline Advisers lifted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,971 shares of the company’s stock after acquiring an additional 6,495 shares during the quarter. Rhumbline Advisers owned approximately 0.09% of Core Scientific worth $3,554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. purchased a new position in Core Scientific during the 4th quarter valued at $42,000. KBC Group NV bought a new stake in shares of Core Scientific during the 4th quarter valued at about $114,000. Duncan Williams Asset Management LLC purchased a new position in shares of Core Scientific during the fourth quarter valued at about $141,000. Arkadios Wealth Advisors bought a new position in Core Scientific in the third quarter worth about $119,000. Finally, Neo Ivy Capital Management purchased a new stake in Core Scientific in the third quarter worth about $194,000.

Insiders Place Their Bets

In other news, CEO Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,258,531.20. Following the sale, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. The trade was a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,849,220.64. Following the completion of the sale, 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. Insiders have sold a total of 614,032 shares of company stock worth $9,534,916 in the last 90 days. 32.00% of the stock is currently owned by corporate insiders.

Core Scientific Trading Up 4.2 %

NASDAQ CORZ opened at $11.16 on Friday. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The stock has a market cap of $3.12 billion and a PE ratio of -2.06. The stock’s 50 day moving average is $13.20 and its 200 day moving average is $13.27.

Core Scientific (NASDAQ:CORZ) last released its earnings results 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. On average, analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BTIG Research upped their target price on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Cantor Fitzgerald decreased their price objective on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday. B. Riley raised their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Compass Point reduced their target price on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, Roth Mkm started coverage on shares of Core Scientific in a research report on Friday, November 15th. They set a “buy” rating and a $25.50 price target for the company. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $19.07.

About Core Scientific

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.