Mount Yale Investment Advisors LLC Purchases Shares of 29,986 Core Scientific, Inc. (NASDAQ:CORZ)

Mount Yale Investment Advisors LLC acquired a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 29,986 shares of the company’s stock, valued at approximately $421,000.

A number of other hedge funds have also modified their holdings of CORZ. Sunbelt Securities Inc. purchased a new stake in shares of Core Scientific during the second quarter valued at $33,000. Rise Advisors LLC raised its holdings in Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after buying an additional 1,000 shares during the period. Xponance Inc. purchased a new stake in Core Scientific during the second quarter valued at about $104,000. KBC Group NV acquired a new position in shares of Core Scientific in the fourth quarter worth about $114,000. Finally, Amalgamated Bank purchased a new position in shares of Core Scientific in the second quarter worth approximately $115,000.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CORZ shares. Compass Point upped their price target on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. B. Riley lifted their price target on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group started coverage on Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective for the company. BTIG Research lifted their target price on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Keefe, Bruyette & Woods began coverage on shares of Core Scientific in a research report on Monday. They issued an “outperform” rating and a $22.00 price target for the company. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Core Scientific has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific Stock Up 0.3 %

Shares of CORZ opened at $11.31 on Wednesday. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The company’s fifty day moving average is $15.37 and its 200-day moving average is $13.03. The firm has a market cap of $3.16 billion and a price-to-earnings ratio of -2.09.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $94.80 million. As a group, research analysts predict that Core Scientific, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Activity at Core Scientific

In other news, insider Todd M. Duchene sold 129,861 shares of the firm’s 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 sale, the insider now directly owns 2,051,649 shares of the company’s stock, valued at approximately $29,215,481.76. This trade represents a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,258,531.20. Following the completion of the transaction, the chief executive officer now directly owns 4,128,505 shares in the company, valued at approximately $58,789,911.20. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 744,032 shares of company stock valued at $11,863,966. Corporate insiders own 32.00% of the company’s stock.

About Core Scientific

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.