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

Rise Advisors LLC lessened its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in shares of Core Scientific in the second quarter valued at approximately $33,000. Vontobel Holding Ltd. raised its holdings in Core Scientific by 10.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock valued at $452,000 after acquiring an additional 3,591 shares during the last quarter. Harvest Portfolios Group Inc. raised its holdings in Core Scientific by 10.1% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company’s stock valued at $663,000 after acquiring an additional 5,109 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its stake in shares of Core Scientific by 25.4% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 30,725 shares of the company’s stock worth $364,000 after purchasing an additional 6,225 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Core Scientific by 41.5% during the third quarter. Victory Capital Management Inc. now owns 26,633 shares of the company’s stock worth $316,000 after purchasing an additional 7,814 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the sale, the chief executive officer now owns 4,128,505 shares in the company, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 348,241 shares of company stock valued at $5,436,802. Corporate insiders own 32.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CORZ has been the topic of several recent analyst reports. BTIG Research increased their target price on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Macquarie boosted their target price on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, September 10th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Thursday, November 7th. 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 has an average rating of “Buy” and a consensus price target of $18.46.

Core Scientific Stock Down 5.4 %

Shares of NASDAQ CORZ traded down $0.82 on Tuesday, hitting $14.30. The company had a trading volume of 7,567,640 shares, compared to its average volume of 8,803,715. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63. The firm has a market capitalization of $3.99 billion and a P/E ratio of -2.64. The business has a 50 day moving average of $15.62 and a two-hundred day 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.