Pekin Hardy Strauss Inc. Increases Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Pekin Hardy Strauss Inc. increased its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 25.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,725 shares of the company’s stock after purchasing an additional 6,225 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Core Scientific were worth $364,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Seldon Capital LP acquired a new stake in Core Scientific during the 3rd quarter valued at $3,530,000. Charles Schwab Investment Management Inc. lifted its position in shares of Core Scientific by 44.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,932,462 shares of the company’s stock valued at $22,919,000 after acquiring an additional 590,946 shares in the last quarter. Highland Peak Capital LLC boosted its stake in shares of Core Scientific by 37.9% during the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after acquiring an additional 113,584 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Core Scientific during the 3rd quarter worth about $315,000. Finally, Natixis Advisors LLC acquired a new position in Core Scientific in the 3rd quarter valued at about $252,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CORZ shares. HC Wainwright lifted their price target on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price target for the company. Canaccord Genuity Group restated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a report on Thursday, November 7th. BTIG Research increased their target price on Core Scientific from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, September 10th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Core Scientific presently has a consensus rating of “Buy” and an average target price of $18.38.

Insider Activity at Core Scientific

In other news, Director Jarrod M. Patten acquired 4,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was bought at an average price of $9.70 per share, with a total value of $38,800.00. Following the completion of the transaction, the director now directly owns 279,239 shares of the company’s stock, valued at $2,708,618.30. The trade was a 1.45 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the director now owns 345,239 shares in the company, valued at $6,252,278.29. This represents a 23.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 12,761 shares of company stock worth $127,080. 32.00% of the stock is currently owned by corporate insiders.

Core Scientific Stock Up 3.9 %

CORZ opened at $18.23 on Monday. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.35. The company has a 50 day moving average of $13.67 and a two-hundred day moving average of $10.37. The company has a market cap of $5.09 billion and a P/E ratio of -3.37.

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.