FNY Investment Advisers LLC Acquires 50,275 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

FNY Investment Advisers LLC raised its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 35.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,747 shares of the company’s stock after buying an additional 50,275 shares during the period. Core Scientific comprises 1.4% of FNY Investment Advisers LLC’s portfolio, making the stock its 17th largest holding. FNY Investment Advisers LLC’s holdings in Core Scientific were worth $2,679,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CORZ. Sunbelt Securities Inc. bought a new position in shares of Core Scientific in the second quarter worth approximately $33,000. Divisadero Street Capital Management LP purchased a new position in Core Scientific during the second quarter valued at $93,000. Rise Advisors LLC grew its position in shares of Core Scientific by 14.3% during the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after purchasing an additional 1,000 shares in the last quarter. Xponance Inc. purchased a new position in Core Scientific during the 2nd quarter valued at approximately $104,000. Finally, Amalgamated Bank bought a new stake in Core Scientific in the 2nd quarter worth approximately $115,000.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,258,531.20. Following the completion of the sale, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at $58,789,911.20. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the transaction, the insider now directly owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. This trade represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 348,241 shares of company stock valued at $5,436,802 in the last quarter. 32.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. B. Riley raised their target price on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright increased their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a report on Thursday, November 7th. BTIG Research upped their target price on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Canaccord Genuity Group assumed coverage on Core Scientific in a research report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price target for the company. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Core Scientific currently has a consensus rating of “Buy” and a consensus price target of $18.46.

Core Scientific Stock Performance

Shares of NASDAQ CORZ opened at $13.60 on Tuesday. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The company has a market cap of $3.80 billion and a price-to-earnings ratio of -2.51. The business’s 50 day moving average price is $15.68 and its 200-day moving average price is $12.68.

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.