Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan Sells 88,380 Shares

Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan sold 88,380 shares of the stock in a transaction dated 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. This trade represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Core Scientific Stock Performance

Shares of CORZ stock traded up $0.90 during trading hours on Friday, reaching $15.38. The company had a trading volume of 12,175,691 shares, compared to its average volume of 10,007,646. The company has a market capitalization 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. The stock’s fifty day simple moving average is $15.60 and its 200 day simple moving average is $12.42.

Analyst Ratings Changes

CORZ has been the topic of several recent analyst reports. Macquarie increased their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. BTIG Research increased their price target on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on Core Scientific in a research report on Monday, October 28th. They issued a “buy” rating and a $19.00 target price on the stock. Finally, Roth Capital raised Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Thirteen 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.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $18.46.

Hedge Funds Weigh In On Core Scientific

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

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.