Amalgamated Bank Trims Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Amalgamated Bank reduced its position in Core Scientific, Inc. (NASDAQ:CORZ) by 50.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,171 shares of the company’s stock after selling 6,171 shares during the period. Amalgamated Bank’s holdings in Core Scientific were worth $73,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in shares of Core Scientific in the 2nd quarter valued at about $28,000. Aspect Partners LLC purchased a new stake in shares of Core Scientific in the 1st quarter valued at about $29,000. Sunbelt Securities Inc. purchased a new stake in shares of Core Scientific in the 2nd quarter valued at about $33,000. Rise Advisors LLC purchased a new stake in shares of Core Scientific in the 2nd quarter valued at about $65,000. Finally, Divisadero Street Capital Management LP purchased a new stake in shares of Core Scientific in the 2nd quarter valued at about $93,000.

Core Scientific Trading Up 2.5 %

Shares of CORZ opened at $15.83 on Monday. The firm has a market capitalization of $4.42 billion and a P/E ratio of -2.93. The stock’s fifty day simple moving average is $12.99 and its 200 day simple moving average is $9.89. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.03.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the purchase, the director now directly owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. The trade was a 1.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 12,761 shares of company stock valued at $127,080 over the last three months. 32.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on CORZ shares. Canaccord Genuity Group started coverage on Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. Needham & Company LLC upped their price objective on Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Roth Mkm started coverage on Core Scientific in a research note on Friday. They set a “buy” rating and a $25.50 price objective for the company. BTIG Research upped their price objective on Core Scientific from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. Finally, B. Riley upped their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.38.

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.