Central Asset Investments & Management Holdings HK Ltd Invests $441,000 in Core Scientific, Inc. (NASDAQ:CORZ)

Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 31,400 shares of the company’s stock, valued at approximately $441,000.

Several other institutional investors have also added to or reduced their stakes in CORZ. Wealth Enhancement Advisory Services LLC increased its stake in shares of Core Scientific by 25.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock valued at $1,378,000 after purchasing an additional 20,000 shares during the last quarter. Highland Peak Capital LLC boosted its stake in Core Scientific by 37.9% in the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after buying an additional 113,584 shares in the last quarter. Mirabella Financial Services LLP bought a new position in Core Scientific in the third quarter valued at about $18,383,000. Van ECK Associates Corp grew its position in Core Scientific by 22.9% in the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after acquiring an additional 300,942 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its stake in Core Scientific by 113.4% during the third quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company’s stock worth $652,000 after acquiring an additional 29,230 shares in the last quarter.

Core Scientific Price Performance

Core Scientific stock opened at $10.02 on Thursday. The stock’s 50 day moving average is $13.43 and its 200 day moving average is $13.30. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63. The firm has a market cap of $2.80 billion and a P/E ratio of -1.85.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Equities analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CORZ. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Core Scientific in a research note on Friday, January 17th. HC Wainwright raised their target price on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. BTIG Research upped their price target on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Craig Hallum initiated coverage on Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and an average price target of $19.07.

Insider Activity at Core Scientific

In related news, CEO Adam Taylor Sullivan sold 369,712 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the completion of the sale, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at $61,042,798.32. This trade represents a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 129,861 shares of the business’s 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 $1,849,220.64. Following the completion of the transaction, the insider now directly owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. This trade represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 614,032 shares of company stock worth $9,534,916 over the last quarter. Company insiders own 32.00% of the company’s stock.

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.