Wellington Shields & Co. LLC Purchases Shares of 1,815 Core Scientific, Inc. (NASDAQ:CORZ)

Wellington Shields & Co. LLC purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,815 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors have also recently made changes to their positions in the stock. ORG Wealth Partners LLC grew its position in shares of Core Scientific by 0.3% in the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock valued at $126,262,000 after buying an additional 26,649 shares during the last quarter. Parsifal Capital Management LP grew its position in shares of Core Scientific by 3.9% in the 3rd quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock valued at $64,196,000 after buying an additional 204,314 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after buying an additional 1,113,285 shares during the last quarter. State Street Corp grew its position in shares of Core Scientific by 17.0% in the 3rd quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after buying an additional 583,493 shares during the last quarter. Finally, Taconic Capital Advisors LP grew its position in shares of Core Scientific by 178.7% in the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after buying an additional 1,742,462 shares during the last quarter.

Analysts Set New Price Targets

CORZ has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Cantor Fitzgerald cut their target price on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Compass Point cut their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Craig Hallum initiated coverage on Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price on the stock. Finally, Keefe, Bruyette & Woods initiated coverage on Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 target price on the stock. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $19.07.

Insider Activity

In related news, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the sale, the chief executive officer now directly owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. This trade represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the sale, the director now owns 195,687 shares in the company, valued at $2,103,635.25. This trade represents a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 748,282 shares of company stock worth $10,978,104 over the last 90 days. 32.00% of the stock is currently owned by corporate insiders.

Core Scientific Stock Up 1.7 %

CORZ stock opened at $8.81 on Friday. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The stock’s 50 day moving average is $12.08 and its 200-day moving average is $13.21. The firm has a market capitalization of $2.59 billion, a PE ratio of -1.63 and a beta of 6.83.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. On average, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

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.