Oppenheimer Asset Management Inc. Acquires New Shares in Core Scientific, Inc. (NASDAQ:CORZ)

Oppenheimer Asset Management Inc. purchased a new position in Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,366 shares of the company’s stock, valued at approximately $160,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CORZ. First Horizon Advisors Inc. purchased a new position in shares of Core Scientific during the fourth quarter worth approximately $34,000. Newbridge Financial Services Group Inc. bought a new position in shares of Core Scientific during the 4th quarter valued at $42,000. KBC Group NV purchased a new position in Core Scientific in the 4th quarter worth $114,000. Villere ST Denis J & Co. LLC bought a new stake in Core Scientific in the fourth quarter worth $140,000. Finally, Duncan Williams Asset Management LLC purchased a new stake in Core Scientific during the fourth quarter valued at about $141,000.

Analyst Ratings Changes

Several analysts have weighed in on the company. Cantor Fitzgerald lowered their price objective on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Thursday, February 27th. Compass Point cut their price target on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. BTIG Research upped their price objective on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Roth Mkm assumed coverage on Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 target price on the stock. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Core Scientific currently has an average rating of “Buy” and an average price target of $19.07.

Core Scientific Trading Down 0.9 %

NASDAQ CORZ opened at $7.78 on Friday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -1.44 and a beta of 6.83. The stock has a 50-day moving average of $12.65 and a 200 day moving average of $13.26. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its 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 company had revenue of $94.93 million for the quarter, compared to analysts’ expectations of $97.07 million. Equities 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 value of $410,498.48. Following the completion of the transaction, the insider now directly owns 2,023,423 shares of the company’s stock, valued at $32,860,389.52. The trade was a 1.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the sale, the chief executive officer now directly owns 4,128,505 shares in the company, valued at approximately $58,789,911.20. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 748,282 shares of company stock valued at $10,978,104 in the last three months. 32.00% of the stock is currently owned by 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.