Red Door Wealth Management LLC Purchases 52,851 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Red Door Wealth Management LLC boosted its position in Core Scientific, Inc. (NASDAQ:CORZ) by 124.3% in the 4th quarter, HoldingsChannel reports. The firm owned 95,378 shares of the company’s stock after acquiring an additional 52,851 shares during the period. Red Door Wealth Management LLC’s holdings in Core Scientific were worth $1,340,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CORZ. ORG Wealth Partners LLC boosted its stake in shares of Core Scientific by 0.3% during the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock worth $126,262,000 after acquiring an additional 26,649 shares during the period. Parsifal Capital Management LP lifted its holdings in Core Scientific by 3.9% during the 3rd quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock valued at $64,196,000 after purchasing an additional 204,314 shares during the last quarter. Geode Capital Management LLC boosted its position in Core Scientific by 26.7% during the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after purchasing an additional 1,113,285 shares during the period. State Street Corp increased its holdings in shares of Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after purchasing an additional 583,493 shares during the last quarter. Finally, Taconic Capital Advisors LP increased its holdings in shares of Core Scientific by 178.7% in the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after purchasing an additional 1,742,462 shares during the last quarter.

Insiders Place Their Bets

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 sale, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at $58,789,911.20. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Todd M. Duchene sold 129,861 shares of the company’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 $1,849,220.64. Following the completion of the transaction, the insider now owns 2,051,649 shares of the company’s stock, valued at approximately $29,215,481.76. This trade represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 348,241 shares of company stock valued at $5,436,802 in the last 90 days. Corporate insiders own 32.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CORZ shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Thursday, November 7th. Roth Capital upgraded Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. Craig Hallum assumed coverage on Core Scientific in a research note on Tuesday. They issued a “buy” rating and a $24.00 price target for the company. Compass Point upped their price objective on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, B. Riley lifted their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Core Scientific presently has an average rating of “Buy” and an average price target of $18.86.

Core Scientific Trading Up 2.3 %

CORZ opened at $16.34 on Friday. The company has a market cap of $4.56 billion and a P/E ratio of -3.02. The company’s 50 day moving average is $15.54 and its 200-day moving average is $12.90. Core Scientific, Inc. has a 1-year low of $2.61 and a 1-year high of $18.63.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates 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. On average, equities analysts forecast that Core Scientific, Inc. will post 0.5 EPS for the current year.

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.