First Horizon Advisors Inc. Buys Shares of 2,385 Core Scientific, Inc. (NASDAQ:CORZ)

First Horizon Advisors Inc. bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,385 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors have also made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in Core Scientific during the 4th quarter worth $42,000. KBC Group NV acquired a new position in Core Scientific during the 4th quarter worth $114,000. Arkadios Wealth Advisors acquired a new position in Core Scientific during the 3rd quarter worth $119,000. Villere ST Denis J & Co. LLC acquired a new position in Core Scientific during the 4th quarter worth $140,000. Finally, Duncan Williams Asset Management LLC acquired a new position in Core Scientific during the 4th quarter worth $141,000.

Analyst Upgrades and Downgrades

CORZ has been the subject of several research analyst reports. Keefe, Bruyette & Woods began coverage on Core Scientific in a report on Monday, January 27th. They issued an “outperform” rating and a $22.00 price objective for the company. B. Riley increased their price target on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Compass Point decreased their price target on Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday. Needham & Company LLC decreased their price objective on Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Craig Hallum initiated coverage on Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target for the company. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Core Scientific has an average rating of “Buy” and an average price target of $19.07.

Core Scientific Stock Up 6.9 %

NASDAQ:CORZ opened at $10.71 on Friday. The stock’s 50 day moving average price is $13.34 and its two-hundred day moving average price is $13.28. The firm has a market capitalization of $2.99 billion and a price-to-earnings ratio of -1.98. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.09. The firm had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. Equities research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling

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 completion of the sale, the insider now directly owns 2,051,649 shares in the company, valued at $29,215,481.76. This trade represents a 5.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 4,128,505 shares of the company’s stock, 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. Insiders sold a total of 614,032 shares of company stock valued at $9,534,916 in the last three months. 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.