Fmr LLC Purchases New Shares in Core Scientific, Inc. (NASDAQ:CORZ)

Fmr LLC acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 244,801 shares of the company’s stock, valued at approximately $2,903,000. Fmr LLC owned 0.09% of Core Scientific at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in Core Scientific in the second quarter worth $28,000. Sunbelt Securities Inc. purchased a new stake in shares of Core Scientific in the 2nd quarter worth about $33,000. Rise Advisors LLC increased its stake in shares of Core Scientific by 14.3% in the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after acquiring an additional 1,000 shares in the last quarter. Divisadero Street Capital Management LP purchased a new position in Core Scientific during the 2nd quarter valued at about $93,000. Finally, Arkadios Wealth Advisors bought a new stake in Core Scientific during the third quarter worth about $119,000.

Core Scientific Stock Up 0.1 %

Shares of Core Scientific stock opened at $15.55 on Friday. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The company has a market cap of $4.34 billion and a price-to-earnings ratio of -2.87. The company’s 50 day moving average is $15.08 and its 200 day moving average is $11.71.

Insider Activity

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total value of $1,901,550.00. Following the transaction, the director now directly owns 345,239 shares in the company, valued at approximately $6,252,278.29. This trade represents a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of Core Scientific stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the transaction, the insider now owns 1,661,474 shares in the company, valued at $28,411,205.40. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 32.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CORZ. BTIG Research lifted their target price on shares of Core Scientific from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 15th. HC Wainwright boosted their target price on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group initiated coverage on Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research report on Thursday, November 7th. Finally, Compass Point increased their price objective on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Core Scientific has a consensus rating of “Buy” and an average price target of $18.38.

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.