Seldon Capital LP Buys New Shares in Core Scientific, Inc. (NASDAQ:CORZ)

Seldon Capital LP purchased a new position in Core Scientific, Inc. (NASDAQ:CORZ) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 297,600 shares of the company’s stock, valued at approximately $3,530,000. Core Scientific comprises 2.0% of Seldon Capital LP’s holdings, making the stock its 16th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in CORZ. P Schoenfeld Asset Management LP acquired a new position in Core Scientific in the 2nd quarter worth approximately $4,185,000. Vanguard Group Inc. acquired a new stake in shares of Core Scientific in the first quarter worth $21,973,000. Highland Peak Capital LLC grew its holdings in shares of Core Scientific by 37.9% during 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. Van ECK Associates Corp raised its position in Core Scientific by 22.9% during the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after buying an additional 300,942 shares during the period. Finally, DeepCurrents Investment Group LLC raised its position in Core Scientific by 157.7% during the second quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock valued at $2,373,000 after buying an additional 156,162 shares during the period.

Analysts Set New Price Targets

A number of brokerages have commented on CORZ. Sanford C. Bernstein restated an “outperform” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, September 10th. Macquarie raised their price target on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Canaccord Genuity Group initiated coverage on shares of Core Scientific in a research note on Monday, September 23rd. They issued a “buy” rating and a $16.00 price objective on the stock. Compass Point increased their target price on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.38.

Insiders Place Their Bets

In other news, Director Jarrod M. Patten acquired 5,021 shares of Core Scientific stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the purchase, the director now owns 285,760 shares of the company’s stock, valued at $2,766,156.80. This represents a 1.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Yadin Rozov sold 105,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was 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 approximately $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 12,761 shares of company stock valued at $127,080 over the last quarter. Insiders own 32.00% of the company’s stock.

Core Scientific Trading Up 3.9 %

Shares of NASDAQ:CORZ opened at $18.23 on Friday. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.35. The firm has a fifty day moving average price of $13.67 and a 200 day moving average price of $10.32. The stock has a market capitalization of $5.09 billion and a PE ratio of -3.37.

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.