CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $3.09 Million Position in Core Scientific, Inc. (NASDAQ:CORZ)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT cut its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 21.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 220,000 shares of the company’s stock after selling 60,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.08% of Core Scientific worth $3,091,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Core Scientific by 25.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock valued at $1,378,000 after buying an additional 20,000 shares during the period. Highland Peak Capital LLC boosted its stake in Core Scientific by 37.9% in the 3rd quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock worth $4,905,000 after purchasing an additional 113,584 shares during the period. Mirabella Financial Services LLP bought a new position in Core Scientific during the 3rd quarter worth about $18,383,000. Van ECK Associates Corp raised its stake in shares of Core Scientific by 22.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after purchasing an additional 300,942 shares during the period. Finally, Capstone Investment Advisors LLC lifted its holdings in shares of Core Scientific by 113.4% in the third quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company’s stock valued at $652,000 after purchasing an additional 29,230 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CORZ. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a report on Thursday, November 7th. BTIG Research lifted their price objective on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 16th. Compass Point increased 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. Macquarie lifted their price target on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Roth Mkm initiated coverage on shares of Core Scientific in a research note on Friday, November 15th. They set a “buy” rating and a $25.50 price objective for the company. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.86.

Core Scientific Price Performance

Shares of Core Scientific stock opened at $15.98 on Friday. The business has a fifty day simple moving average of $15.56 and a two-hundred day simple moving average of $12.96. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The company has a market capitalization of $4.46 billion and a price-to-earnings ratio of -2.95.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $94.80 million. As a group, equities analysts anticipate that Core Scientific, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 directly owns 4,128,505 shares in the company, valued at $58,789,911.20. The trade was a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Todd M. Duchene sold 129,861 shares of the firm’s 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 completion of the sale, the insider now directly owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. This represents a 5.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 349,043 shares of company stock valued at $5,449,345 in the last quarter. Company insiders own 32.00% of the company’s stock.

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.