Core Scientific, Inc. (NASDAQ:CORZ) Position Reduced by Amalgamated Bank

Amalgamated Bank decreased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 50.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,171 shares of the company’s stock after selling 6,171 shares during the quarter. Amalgamated Bank’s holdings in Core Scientific were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CORZ. ORG Wealth Partners LLC acquired a new position in Core Scientific in the third quarter worth approximately $106,266,000. Vanguard Group Inc. acquired a new position in Core Scientific in the first quarter worth approximately $21,973,000. Kensico Capital Management Corp acquired a new position in Core Scientific in the first quarter worth approximately $18,513,000. Van ECK Associates Corp acquired a new position in Core Scientific in the second quarter worth approximately $12,239,000. Finally, Vident Advisory LLC acquired a new position in Core Scientific in the first quarter worth approximately $4,047,000.

Core Scientific Stock Performance

CORZ opened at $15.83 on Monday. The firm’s fifty day moving average is $12.99 and its two-hundred day moving average is $9.89. The firm has a market cap of $4.42 billion and a PE ratio of -2.93. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.03.

Insiders Place Their Bets

In related news, Director Jarrod M. Patten acquired 5,021 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the acquisition, the director now directly owns 285,760 shares in the company, valued at approximately $2,766,156.80. The trade was a 1.79 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have bought 12,761 shares of company stock worth $127,080. Company insiders own 32.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CORZ. Sanford C. Bernstein reiterated an “outperform” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, September 10th. HC Wainwright lifted their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Thursday. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.