Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan Sells 88,380 Shares

Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan sold 88,380 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,258,531.20. Following the transaction, the chief executive officer now owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. This trade represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Core Scientific Trading Up 6.2 %

CORZ traded up $0.90 during trading on Friday, reaching $15.38. 12,175,691 shares of the company were exchanged, compared to its average volume of 10,007,646. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63. The firm has a 50 day moving average of $15.60 and a 200 day moving average of $12.42. The stock has a market cap of $4.29 billion and a P/E ratio of -2.84.

Hedge Funds Weigh In On Core Scientific

Several institutional investors have recently modified their holdings of CORZ. ORG Wealth Partners LLC bought a new stake in Core Scientific in the 3rd quarter valued at about $106,266,000. Rush Island Management LP acquired a new stake in shares of Core Scientific in the third quarter valued at approximately $32,221,000. Taconic Capital Advisors LP raised its holdings in shares of Core Scientific by 178.7% during the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after buying an additional 1,742,462 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Core Scientific during the third quarter worth approximately $18,383,000. Finally, Geode Capital Management LLC grew its holdings in Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after buying an additional 1,113,285 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on CORZ. BTIG Research upped their price target on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 16th. Canaccord Genuity Group started coverage on shares of Core Scientific in a research note on Monday, September 23rd. They issued a “buy” rating and a $16.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd. HC Wainwright upped their price objective on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Macquarie lifted their target price on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Core Scientific currently has an average rating of “Buy” and an average price target of $18.46.

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.