Sanctuary Advisors LLC Trims Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Sanctuary Advisors LLC reduced its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 24.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,145 shares of the company’s stock after selling 8,382 shares during the quarter. Sanctuary Advisors LLC’s holdings in Core Scientific were worth $367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CORZ. Newbridge Financial Services Group Inc. purchased a new position in Core Scientific during the 4th quarter worth $42,000. KBC Group NV purchased a new position in Core Scientific during the 4th quarter worth $114,000. Villere ST Denis J & Co. LLC purchased a new position in shares of Core Scientific in the 4th quarter valued at $140,000. Duncan Williams Asset Management LLC purchased a new position in shares of Core Scientific in the 4th quarter valued at $141,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Core Scientific in the 3rd quarter valued at $194,000.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Compass Point cut their price target on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. B. Riley lifted their price target on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Cantor Fitzgerald cut their price target on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Thursday, February 27th. Finally, Craig Hallum assumed coverage on Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price target on the stock. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $19.07.

Core Scientific Stock Performance

Shares of CORZ opened at $10.14 on Tuesday. The stock has a 50-day moving average of $13.12 and a two-hundred day moving average of $13.34. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63. The stock has a market cap of $2.83 billion and a P/E ratio of -1.87.

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

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 25,277 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 $410,498.48. Following the completion of the sale, the insider now owns 2,023,423 shares of the company’s stock, valued at approximately $32,860,389.52. The trade was a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,258,531.20. Following the completion of the transaction, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 614,032 shares of company stock valued at $9,534,916. 32.00% of the stock is owned by company insiders.

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.