JPMorgan Chase & Co. Has $5.19 Million Stake in Core Scientific, Inc. (NASDAQ:CORZ)

JPMorgan Chase & Co. increased its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 48.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 437,812 shares of the company’s stock after buying an additional 142,068 shares during the quarter. JPMorgan Chase & Co.’s holdings in Core Scientific were worth $5,192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in shares of Core Scientific during the 2nd quarter valued at $33,000. Divisadero Street Capital Management LP bought a new stake in shares of Core Scientific during the second quarter valued at approximately $93,000. Rise Advisors LLC raised 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 worth $95,000 after purchasing an additional 1,000 shares during the period. Xponance Inc. bought a new position in shares of Core Scientific in the 2nd quarter worth $104,000. Finally, Amalgamated Bank acquired a new stake in Core Scientific in the 2nd quarter valued at $115,000.

Core Scientific Stock Up 0.7 %

CORZ opened at $14.63 on Friday. The business’s fifty day simple moving average is $15.66 and its 200 day simple moving average is $12.73. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63. The stock has a market cap of $4.09 billion and a PE ratio of -2.70.

Analyst Upgrades and Downgrades

CORZ has been the topic of a number of analyst reports. Compass Point upped their target price on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. B. Riley upped their price objective 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. Roth Mkm assumed coverage on shares of Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective for the company. Finally, Canaccord Genuity Group began coverage on Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective on the stock. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Core Scientific has a consensus rating of “Buy” and a consensus price target of $18.46.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the transaction, the director now directly owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. This trade represents a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following the completion of the sale, the insider now directly owns 1,661,474 shares of the company’s stock, valued at $28,411,205.40. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 348,241 shares of company stock worth $5,436,802.

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.