Qsemble Capital Management LP Buys New Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Qsemble Capital Management LP purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 27,951 shares of the company’s stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CORZ. Vanguard Group Inc. purchased a new position in Core Scientific in the 1st quarter valued at approximately $21,973,000. Rise Advisors LLC purchased a new position in Core Scientific in the 2nd quarter valued at approximately $65,000. SG Americas Securities LLC purchased a new position in Core Scientific in the 2nd quarter valued at approximately $1,792,000. ORG Partners LLC purchased a new position in Core Scientific in the 2nd quarter valued at approximately $872,000. Finally, Red Door Wealth Management LLC purchased a new position in Core Scientific in the 2nd quarter valued at approximately $218,000.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $17.71 on Thursday. The company’s fifty day moving average price is $14.03 and its 200 day moving average price is $10.67. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The firm has a market capitalization of $4.95 billion and a P/E ratio of -3.27.

Wall Street Analysts Forecast Growth

CORZ has been the subject of several recent research reports. B. Riley raised their price target on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HC Wainwright lifted their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Mkm assumed coverage on shares of Core Scientific in a research report on Friday, November 15th. They set a “buy” rating and a $25.50 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group assumed coverage on shares of Core Scientific in a research report on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $18.38.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 25,000 shares of Core Scientific stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the transaction, the insider now directly owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jarrod M. Patten acquired 5,021 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the purchase, the director now owns 285,760 shares of the company’s stock, valued at $2,766,156.80. This trade represents a 1.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 8,761 shares of company stock worth $88,280 in the last ninety days. 32.00% of the stock is owned by corporate insiders.

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.