Corsair Capital Management L.P. Increases Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Corsair Capital Management L.P. raised its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 62.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,364 shares of the company’s stock after purchasing an additional 12,500 shares during the quarter. Corsair Capital Management L.P.’s holdings in Core Scientific were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CORZ. FMR LLC acquired a new position in shares of Core Scientific during the 3rd quarter worth approximately $2,903,000. The Manufacturers Life Insurance Company boosted its position in Core Scientific by 76.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 113,257 shares of the company’s stock worth $1,343,000 after purchasing an additional 48,929 shares during the period. Qsemble Capital Management LP purchased a new stake in Core Scientific during the 3rd quarter worth $331,000. Mirabella Financial Services LLP purchased a new position in Core Scientific in the 3rd quarter valued at about $18,383,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in Core Scientific by 48.8% in the 3rd 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC upped their target price on shares of Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group restated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a report on Thursday, November 7th. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Tuesday, September 10th. Finally, Macquarie increased their target price on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Core Scientific presently has an average rating of “Buy” and an average target price of $18.38.

Core Scientific Trading Up 2.0 %

NASDAQ:CORZ opened at $17.46 on Wednesday. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The firm’s fifty day simple moving average is $13.92 and its 200 day simple moving average is $10.62.

Insider Activity at Core Scientific

In other news, insider Todd M. Duchene sold 25,000 shares of Core Scientific stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following the sale, the insider now directly owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the completion of the transaction, the director now directly owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 8,761 shares of company stock worth $88,280.

Core Scientific 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.