Core Scientific, Inc. (NASDAQ:CORZ) Shares Sold by DeepCurrents Investment Group LLC

DeepCurrents Investment Group LLC cut its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 24.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 140,924 shares of the company's stock after selling 46,647 shares during the period. DeepCurrents Investment Group LLC owned about 0.05% of Core Scientific worth $1,980,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Shields & Co. LLC purchased a new stake in shares of Core Scientific during the fourth quarter worth approximately $26,000. First Horizon Advisors Inc. purchased a new stake in shares of Core Scientific during the fourth quarter worth $34,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Core Scientific in the fourth quarter valued at about $42,000. Vestcor Inc acquired a new stake in shares of Core Scientific in the fourth quarter valued at about $66,000. Finally, US Bancorp DE purchased a new position in shares of Core Scientific in the fourth quarter worth about $99,000.

Insider Activity at Core Scientific

In other Core Scientific news, Director Jordan Levy purchased 62,500 shares of the company's stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the sale, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. This represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CORZ shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research note on Wednesday, March 12th. Needham & Company LLC reduced their price objective on Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Cantor Fitzgerald cut their target price on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, Craig Hallum started coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target on the stock. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Core Scientific presently has a consensus rating of "Buy" and an average target price of $19.07.

Core Scientific Trading Up 2.8 %

Shares of NASDAQ CORZ opened at $9.00 on Wednesday. The stock has a market capitalization of $2.65 billion, a PE ratio of -1.66 and a beta of 6.66. Core Scientific, Inc. has a twelve month low of $3.29 and a twelve month high of $18.63. The stock has a fifty day simple moving average of $7.99 and a 200-day simple moving average of $12.16.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $97.07 million. On average, equities analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

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.

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