Core Scientific, Inc. (NASDAQ:CORZ) Sees Large Growth in Short Interest

Core Scientific, Inc. (NASDAQ:CORZ) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 44,670,000 shares, a growth of 13.2% from the December 15th total of 39,460,000 shares. Currently, 18.5% of the company’s stock are sold short. Based on an average daily trading volume, of 10,740,000 shares, the short-interest ratio is presently 4.2 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BTIG Research upped their target price on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Core Scientific in a report on Friday. Roth Mkm started coverage on shares of Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective on the stock. Compass Point boosted their target price 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. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Thursday, November 7th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Core Scientific currently has an average rating of “Buy” and a consensus price target of $18.46.

Insider Buying and Selling at Core Scientific

In other news, Director Yadin Rozov sold 105,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the sale, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the company’s stock in a transaction 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 directly owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 348,241 shares of company stock worth $5,436,802.

Institutional Trading of Core Scientific

A number of institutional investors and hedge funds have recently made changes to their positions in CORZ. Red Door Wealth Management LLC lifted its holdings in Core Scientific by 124.3% during the fourth quarter. Red Door Wealth Management LLC now owns 95,378 shares of the company’s stock valued at $1,340,000 after purchasing an additional 52,851 shares in the last quarter. Shikiar Asset Management Inc. raised its position in shares of Core Scientific by 27.0% during the 4th quarter. Shikiar Asset Management Inc. now owns 95,250 shares of the company’s stock worth $1,338,000 after purchasing an additional 20,250 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in Core Scientific by 35.8% in the 4th quarter. FNY Investment Advisers LLC now owns 190,747 shares of the company’s stock valued at $2,679,000 after buying an additional 50,275 shares in the last quarter. ORG Wealth Partners LLC boosted its holdings in Core Scientific by 0.3% in the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock worth $126,262,000 after buying an additional 26,649 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Core Scientific by 25.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock worth $1,378,000 after buying an additional 20,000 shares in the last quarter.

Core Scientific Stock Up 2.5 %

Shares of Core Scientific stock opened at $15.00 on Monday. The firm has a market cap of $4.19 billion and a PE ratio of -2.77. The business has a 50-day moving average price of $15.63 and a 200 day moving average price of $12.81. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.63.

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.