Wellington Shields & Co. LLC Buys Shares of 1,815 Core Scientific, Inc. (NASDAQ:CORZ)

Wellington Shields & Co. LLC bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,815 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. bought a new stake in shares of Core Scientific in the fourth quarter valued at $34,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Core Scientific in the fourth quarter valued at $42,000. Vestcor Inc purchased a new position in shares of Core Scientific in the fourth quarter valued at $66,000. US Bancorp DE purchased a new position in shares of Core Scientific in the fourth quarter valued at $99,000. Finally, KBC Group NV purchased a new position in shares of Core Scientific in the fourth quarter valued at $114,000.

Analyst Ratings Changes

Several brokerages have recently weighed in on CORZ. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods began coverage on Core Scientific in a research report on Monday, January 27th. They issued an “outperform” rating and a $22.00 price target for the company. Compass Point reduced 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, February 25th. BTIG Research boosted their target price on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Craig Hallum started coverage on Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price for the company. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $19.07.

Core Scientific Trading Up 1.7 %

CORZ opened at $8.81 on Friday. The stock has a 50-day moving average price of $12.08 and a 200-day moving average price of $13.21. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63. The stock has a market capitalization of $2.59 billion, a P/E ratio of -1.63 and a beta of 6.83.

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

Insider Activity

In related news, Director Jordan Levy bought 62,500 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $8.01 per share, with a total value of $500,625.00. Following the purchase, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. The trade was a 25.57 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $6,004,122.88. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 748,282 shares of company stock valued at $10,978,104. 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.