SBI Securities Co. Ltd. Invests $124,000 in Core Scientific, Inc. (NASDAQ:CORZ)

SBI Securities Co. Ltd. bought a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,824 shares of the company’s stock, valued at approximately $124,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CORZ. US Bancorp DE purchased a new position in shares of Core Scientific during the fourth quarter valued at $99,000. Heritage Oak Wealth Advisors LLC purchased a new position in shares of Core Scientific during the fourth quarter valued at $10,301,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Core Scientific during the fourth quarter valued at $160,000. Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Core Scientific during the fourth quarter valued at $441,000. Finally, SRN Advisors LLC purchased a new position in shares of Core Scientific during the fourth quarter valued at $1,405,000.

Insiders Place Their Bets

In related news, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the completion of the transaction, the chief executive officer now owns 4,128,505 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 195,687 shares of the company’s stock, valued at $2,103,635.25. This represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 748,282 shares of company stock valued at $10,978,104 over the last quarter. Insiders own 32.00% of the company’s stock.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $7.78 on Friday. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The business has a 50-day moving average of $12.65 and a two-hundred day moving average of $13.26. The stock has a market capitalization of $2.29 billion, a P/E ratio of -1.44 and a beta of 6.83.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. As a group, research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CORZ shares. Roth Mkm started coverage on Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price target on the stock. Needham & Company LLC lowered their price target on Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price target on shares of Core Scientific in a report on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Thursday, February 27th. Finally, Craig Hallum started coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price 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 MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $19.07.

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.