Stephens Inc. AR Invests $927,000 in Core Scientific, Inc. (NASDAQ:CORZ)

Stephens Inc. AR acquired a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 65,972 shares of the company’s stock, valued at approximately $927,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. KBC Group NV purchased a new stake in Core Scientific in the fourth quarter worth approximately $114,000. Duncan Williams Asset Management LLC purchased a new stake in Core Scientific in the fourth quarter worth approximately $141,000. Arkadios Wealth Advisors purchased a new stake in Core Scientific in the third quarter worth approximately $119,000. OLD National Bancorp IN purchased a new stake in Core Scientific in the third quarter worth approximately $164,000. Finally, Sanctuary Advisors LLC purchased a new stake in Core Scientific in the second quarter worth approximately $140,000.

Core Scientific Trading Up 3.7 %

NASDAQ CORZ opened at $12.54 on Friday. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The stock has a market cap of $3.50 billion and a P/E ratio of -2.32. The stock’s fifty day moving average price is $14.25 and its 200-day moving average price is $13.14.

Insider Transactions at Core Scientific

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the transaction, the chief executive officer now directly owns 3,758,793 shares of the company’s stock, valued at approximately $61,042,798.32. This trade represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 25,277 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the transaction, the insider now directly owns 2,023,423 shares in the company, valued at $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 744,032 shares of company stock valued at $11,863,966. Insiders own 32.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Core Scientific in a research note on Friday, January 17th. Macquarie boosted their price objective on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. HC Wainwright boosted their price objective on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Roth Capital upgraded Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Jefferies Financial Group started coverage on Core Scientific in a research report on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective for the company. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Core Scientific has an average rating of “Buy” and an average price target of $19.07.

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.