Nicholas Investment Partners LP acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 173,701 shares of the company’s stock, valued at approximately $4,445,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in Core Scientific by 106.1% during the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock worth $2,052,000 after purchasing an additional 145,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Core Scientific by 180.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock valued at $8,032,000 after purchasing an additional 714,388 shares during the period. Cetera Investment Advisers raised its position in shares of Core Scientific by 200.0% in the second quarter. Cetera Investment Advisers now owns 38,819 shares of the company’s stock valued at $663,000 after purchasing an additional 25,878 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Core Scientific in the second quarter worth $181,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Core Scientific by 61.9% in the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock worth $67,000 after buying an additional 1,507 shares during the last quarter.
Core Scientific Price Performance
NASDAQ:CORZ opened at $17.27 on Tuesday. The stock has a market cap of $5.55 billion, a P/E ratio of -3.91 and a beta of 5.59. Core Scientific, Inc. has a one year low of $13.14 and a one year high of $30.46. The company has a fifty day moving average price of $22.75 and a 200 day moving average price of $21.01.
Insider Transactions at Core Scientific
In related news, Director Eric Stanton Weiss acquired 7,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average price of $19.19 per share, with a total value of $134,330.00. Following the completion of the transaction, the director owned 259,262 shares of the company’s stock, valued at approximately $4,975,237.78. This represents a 2.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $19.97, for a total transaction of $199,700.00. Following the completion of the sale, the insider owned 1,969,101 shares of the company’s stock, valued at approximately $39,322,946.97. The trade was a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 90,000 shares of company stock valued at $2,185,800 in the last ninety days. 1.70% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on CORZ. Loop Capital set a $40.00 price target on shares of Core Scientific in a report on Friday, June 12th. Compass Point reiterated a “buy” rating and issued a $36.00 price objective on shares of Core Scientific in a research note on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research report on Friday, July 17th. Jefferies Financial Group increased their target price on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Finally, Needham & Company LLC raised their target price on Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Core Scientific has a consensus rating of “Moderate Buy” and an average target price of $32.18.
Check Out Our Latest Analysis on Core Scientific
Core Scientific Profile
Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.
Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.
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