Core Scientific, Inc. (NASDAQ:CORZ) is Taconic Capital Advisors LP’s 2nd Largest Position

Taconic Capital Advisors LP grew its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 178.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,717,462 shares of the company’s stock after purchasing an additional 1,742,462 shares during the period. Core Scientific makes up 17.2% of Taconic Capital Advisors LP’s portfolio, making the stock its 2nd biggest holding. Taconic Capital Advisors LP’s holdings in Core Scientific were worth $32,229,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of Core Scientific during the 2nd quarter worth $28,000. Sunbelt Securities Inc. bought a new stake in Core Scientific in the second quarter worth $33,000. Rise Advisors LLC bought a new stake in Core Scientific in the second quarter worth $65,000. Divisadero Street Capital Management LP bought a new stake in Core Scientific in the second quarter worth $93,000. Finally, Xponance Inc. bought a new stake in Core Scientific in the second quarter worth $104,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on CORZ. Compass Point boosted their price target on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. HC Wainwright boosted their price target on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Sanford C. Bernstein restated an “outperform” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, September 10th. Finally, Roth Mkm assumed coverage on shares of Core Scientific in a research report on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective on the stock. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $18.38.

Core Scientific Stock Performance

Shares of CORZ opened at $17.71 on Friday. The stock has a market cap of $4.95 billion and a PE ratio of -3.27. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The firm’s 50-day simple moving average is $14.15 and its two-hundred day simple moving average is $10.71.

Insiders Place Their Bets

In other news, Director Jarrod M. Patten bought 5,021 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the purchase, the director now owns 285,760 shares in the company, valued at approximately $2,766,156.80. This represents a 1.79 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 32.00% of the company’s stock.

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.