Core Scientific, Inc. (NASDAQ:CORZ) CEO Sells $1,258,531.20 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan sold 88,380 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,258,531.20. Following the transaction, the chief executive officer now owns 4,128,505 shares in the company, valued at $58,789,911.20. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Core Scientific Stock Up 6.2 %

Shares of CORZ stock opened at $15.38 on Monday. The business has a fifty day simple moving average of $15.60 and a 200 day simple moving average of $12.44. The company has a market cap of $4.29 billion and a P/E ratio of -2.84. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CORZ. ORG Wealth Partners LLC bought a new stake in shares of Core Scientific during the 3rd quarter valued at approximately $106,266,000. Rush Island Management LP acquired a new stake in Core Scientific in the third quarter valued at approximately $32,221,000. Taconic Capital Advisors LP boosted its position in Core Scientific by 178.7% in the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after buying an additional 1,742,462 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Core Scientific during the third quarter worth $18,383,000. Finally, Geode Capital Management LLC lifted its stake in shares of Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after acquiring an additional 1,113,285 shares during the last quarter.

Wall Street Analysts Forecast Growth

CORZ has been the topic of several research reports. HC Wainwright upped their price target on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 target price on shares of Core Scientific in a report on Thursday, October 3rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, September 10th. B. Riley raised their price objective on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Roth Mkm initiated coverage on Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective for the company. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $18.46.

About Core Scientific

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.