Rise Advisors LLC Trims Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Rise Advisors LLC lowered its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 25.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,000 shares of the company’s stock after selling 2,000 shares during the quarter. Rise Advisors LLC’s holdings in Core Scientific were worth $84,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CORZ. Sunbelt Securities Inc. acquired a new position in Core Scientific during the 2nd quarter worth $33,000. Divisadero Street Capital Management LP acquired a new position in Core Scientific in the second quarter worth about $93,000. Xponance Inc. bought a new stake in Core Scientific in the second quarter valued at about $104,000. Amalgamated Bank bought a new stake in Core Scientific in the second quarter valued at about $115,000. Finally, Arkadios Wealth Advisors bought a new position in Core Scientific during the 3rd quarter worth approximately $119,000.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CORZ shares. Needham & Company LLC lifted their price objective on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Roth Mkm initiated coverage on shares of Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 price target for the company. HC Wainwright increased their price objective 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. Canaccord Genuity Group began coverage on shares of Core Scientific in a report on Monday, September 23rd. They issued a “buy” rating and a $16.00 target price on the stock. Finally, BTIG Research upped their target price on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 16th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and a consensus price target of $18.46.

Insiders Place Their Bets

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total value of $1,901,550.00. Following the completion of the sale, the director now owns 345,239 shares in the company, valued at $6,252,278.29. This represents a 23.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 348,241 shares of company stock worth $5,436,802. 32.00% of the stock is currently owned by company insiders.

Core Scientific Stock Down 5.4 %

Shares of Core Scientific stock traded down $0.82 during midday trading on Tuesday, hitting $14.30. The company’s stock had a trading volume of 7,567,640 shares, compared to its average volume of 8,803,715. The firm has a market capitalization of $3.99 billion and a P/E ratio of -2.64. Core Scientific, Inc. has a 1-year low of $2.61 and a 1-year high of $18.63. The stock has a 50-day simple moving average of $15.62 and a 200-day simple moving average of $12.51.

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.