Phoenix Financial Ltd. Purchases 8,790 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Phoenix Financial Ltd. increased its position in Core Scientific, Inc. (NASDAQ:CORZ) by 49.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,744 shares of the company’s stock after purchasing an additional 8,790 shares during the quarter. Phoenix Financial Ltd.’s holdings in Core Scientific were worth $376,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wellington Shields & Co. LLC acquired a new stake in shares of Core Scientific in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. acquired a new stake in Core Scientific during the 4th quarter valued at $34,000. Newbridge Financial Services Group Inc. bought a new position in Core Scientific during the fourth quarter worth $42,000. Vestcor Inc acquired a new position in shares of Core Scientific in the fourth quarter valued at $66,000. Finally, US Bancorp DE acquired a new position in shares of Core Scientific in the fourth quarter valued at $99,000.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CORZ. BTIG Research raised their target price on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Canaccord Genuity Group restated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a report on Wednesday, March 12th. Needham & Company LLC lowered their target price on Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, Cantor Fitzgerald decreased their price objective on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Core Scientific currently has an average rating of “Buy” and a consensus price target of $19.07.

Insider Transactions at Core Scientific

In related news, Director Jordan Levy purchased 62,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $8.01 per share, with a total value of $500,625.00. Following the acquisition, the director now owns 306,887 shares of the company’s stock, valued at $2,458,164.87. This trade represents a 25.57 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the completion of the transaction, the director now directly owns 195,687 shares of the company’s stock, valued at approximately $2,103,635.25. The trade was a 40.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 530,041 shares of company stock valued at $7,870,352. Corporate insiders own 32.00% of the company’s stock.

Core Scientific Trading Up 3.7 %

Shares of NASDAQ:CORZ opened at $7.07 on Friday. The firm has a 50 day moving average of $9.39 and a 200-day moving average of $12.73. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The stock has a market capitalization of $2.08 billion, a PE ratio of -1.31 and a beta of 6.80.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The firm had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. On average, research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

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.