Concurrent Investment Advisors LLC Has $3.51 Million Position in Core Scientific, Inc. (NASDAQ:CORZ)

Concurrent Investment Advisors LLC trimmed its position in Core Scientific, Inc. (NASDAQ:CORZ) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,573 shares of the company’s stock after selling 7,161 shares during the period. Concurrent Investment Advisors LLC’s holdings in Core Scientific were worth $3,507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rush Island Management LP bought a new stake in Core Scientific in the third quarter valued at approximately $32,221,000. Taconic Capital Advisors LP grew its holdings in shares of Core Scientific by 178.7% in 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 during the period. Mirabella Financial Services LLP bought a new stake in shares of Core Scientific in the 3rd quarter valued at $18,383,000. Geode Capital Management LLC increased its position in shares of Core Scientific by 26.7% in 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. Finally, Whitefort Capital Management LP raised its stake in Core Scientific by 337.1% during the 3rd quarter. Whitefort Capital Management LP now owns 1,147,500 shares of the company’s stock worth $13,609,000 after buying an additional 885,000 shares during the period.

Insider Activity at Core Scientific

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $6,004,122.88. Following the completion of the sale, the chief executive officer now owns 3,758,793 shares in the company, valued at $61,042,798.32. This trade represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Todd M. Duchene sold 25,277 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $410,498.48. Following the transaction, the insider now owns 2,023,423 shares in the company, valued at $32,860,389.52. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 614,032 shares of company stock valued at $9,534,916. 32.00% of the stock is owned by insiders.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $11.84 on Friday. The company’s 50-day moving average price is $13.78 and its two-hundred day moving average price is $13.24. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63. The stock has a market capitalization of $3.31 billion and a PE ratio of -2.19.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. HC Wainwright boosted their target price on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Keefe, Bruyette & Woods began coverage on shares of Core Scientific in a report on Monday, January 27th. They set an “outperform” rating and a $22.00 target price on the stock. BTIG Research lifted their price target on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Craig Hallum assumed coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective for the company. Fifteen 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.com, the company has an average rating of “Buy” and a consensus target price of $19.07.

Core Scientific 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.