Core Scientific, Inc. (NASDAQ:CORZ) Short Interest Update

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 44,670,000 shares, a growth of 13.2% from the December 15th total of 39,460,000 shares. Based on an average trading volume of 10,740,000 shares, the short-interest ratio is currently 4.2 days. Currently, 18.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CORZ. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a report on Thursday, November 7th. Roth Mkm initiated coverage on Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 price target for the company. HC Wainwright increased their price target on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. BTIG Research increased their price target on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Jefferies Financial Group initiated coverage on Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 price target for the company. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Core Scientific presently has an average rating of “Buy” and a consensus price target of $18.46.

Insiders Place Their Bets

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the 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 in the company, valued at approximately $6,252,278.29. This trade represents a 23.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,849,220.64. Following the sale, the insider now owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. This represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 348,241 shares of company stock worth $5,436,802.

Institutional Investors Weigh In On Core Scientific

Several institutional investors have recently made changes to their positions in CORZ. ORG Wealth Partners LLC bought a new stake in shares of Core Scientific in the 3rd quarter worth about $106,266,000. Rush Island Management LP bought a new stake in Core Scientific during the 3rd quarter valued at about $32,221,000. Taconic Capital Advisors LP lifted its holdings in Core Scientific by 178.7% during the 3rd 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 bought a new stake in Core Scientific during the 3rd quarter valued at about $18,383,000. Finally, Geode Capital Management LLC lifted its holdings in Core Scientific by 26.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after buying an additional 1,113,285 shares in the last quarter.

Core Scientific Price Performance

Shares of Core Scientific stock traded up $0.37 during trading on Friday, hitting $15.00. The stock had a trading volume of 8,879,625 shares, compared to its average volume of 8,324,011. The firm’s fifty day simple moving average is $15.63 and its 200-day simple moving average is $12.77. The stock has a market cap of $4.19 billion and a PE ratio of -2.77. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63.

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.