Blair William & Co. IL Decreases Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Blair William & Co. IL lessened its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 60.6% during the 4th quarter, Holdings Channel reports. The firm owned 381,910 shares of the company’s stock after selling 588,357 shares during the quarter. Blair William & Co. IL’s holdings in Core Scientific were worth $5,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in Core Scientific during the 3rd quarter worth about $315,000. Charles Schwab Investment Management Inc. boosted its position in Core Scientific by 44.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,932,462 shares of the company’s stock valued at $22,919,000 after buying an additional 590,946 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in Core Scientific by 48.8% in the third quarter. Dynamic Technology Lab Private Ltd now owns 34,786 shares of the company’s stock valued at $413,000 after buying an additional 11,412 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Core Scientific by 76.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 113,257 shares of the company’s stock worth $1,343,000 after buying an additional 48,929 shares during the period. Finally, FMR LLC purchased a new position in Core Scientific during the 3rd quarter worth approximately $2,903,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, March 11th. Cantor Fitzgerald lowered their price target on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Craig Hallum assumed coverage on Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target on the stock. Needham & Company LLC decreased their price objective on Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Keefe, Bruyette & Woods started coverage on Core Scientific in a research note on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price on the stock. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $19.07.

Insider Activity

In related news, Director Todd A. Becker sold 134,250 shares of the business’s 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 approximately $2,103,635.25. The trade was a 40.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,849,220.64. Following the transaction, the insider now directly owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. The trade was a 5.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 748,282 shares of company stock valued at $10,978,104. Company insiders own 32.00% of the company’s stock.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $7.48 on Monday. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The company has a market capitalization of $2.20 billion, a P/E ratio of -1.38 and a beta of 6.83. The company has a 50 day simple moving average of $10.89 and a 200-day simple moving average of $13.12.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. As a group, research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current 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.