Core Scientific, Inc. (NASDAQ:CORZ) Short Interest Up 15.0% in November

Core Scientific, Inc. (NASDAQ:CORZ) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 33,920,000 shares, an increase of 15.0% from the October 31st total of 29,490,000 shares. Currently, 14.2% of the shares of the stock are sold short. Based on an average trading volume of 10,510,000 shares, the days-to-cover ratio is currently 3.2 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Macquarie upped 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. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. Canaccord Genuity Group assumed coverage on shares of Core Scientific in a research report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 target price on shares of Core Scientific in a research report on Thursday, October 3rd. Finally, BTIG Research increased their price target on Core Scientific from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Core Scientific has an average rating of “Buy” and a consensus price target of $18.38.

Insider Activity at Core Scientific

In related news, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total value of $1,901,550.00. Following the sale, the director now owns 345,239 shares in the company, valued at $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Todd M. Duchene sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the completion of the transaction, the insider now owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. 32.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC purchased a new stake in Core Scientific during the 3rd quarter valued at about $106,266,000. Vanguard Group Inc. purchased a new stake in shares of Core Scientific in the first quarter worth about $21,973,000. Parsifal Capital Management LP grew its stake in shares of Core Scientific by 3.9% during the 3rd quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock worth $64,196,000 after purchasing an additional 204,314 shares during the period. Geode Capital Management LLC increased its holdings in Core Scientific by 26.7% in the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after buying an additional 1,113,285 shares in the last quarter. Finally, State Street Corp increased its position in shares of Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after buying an additional 583,493 shares in the last quarter.

Core Scientific Stock Up 1.0 %

Shares of Core Scientific stock traded up $0.17 on Friday, reaching $17.88. The stock had a trading volume of 4,656,935 shares, compared to its average volume of 10,479,526. Core Scientific has a 1 year low of $2.61 and a 1 year high of $18.63. The company has a 50 day moving average price of $14.27 and a 200 day moving average price of $10.91. The stock has a market capitalization of $4.99 billion and a P/E ratio of -3.30.

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.