Newbridge Financial Services Group Inc. Invests $42,000 in Core Scientific, Inc. (NASDAQ:CORZ)

Newbridge Financial Services Group Inc. purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,000 shares of the company’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV bought a new stake in shares of Core Scientific during the fourth quarter worth approximately $114,000. Duncan Williams Asset Management LLC bought a new stake in shares of Core Scientific during the fourth quarter worth approximately $141,000. Arkadios Wealth Advisors bought a new stake in shares of Core Scientific during the third quarter worth approximately $119,000. OLD National Bancorp IN bought a new stake in Core Scientific in the third quarter valued at approximately $164,000. Finally, Sanctuary Advisors LLC bought a new stake in Core Scientific in the second quarter valued at approximately $140,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CORZ shares. HC Wainwright upped their target price on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. Jefferies Financial Group started coverage on shares of Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 target price for the company. Macquarie upped their target price 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, Compass Point upped their target price on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific Trading Down 4.4 %

Shares of CORZ opened at $12.26 on Wednesday. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The firm has a fifty day simple moving average of $14.44 and a 200 day simple moving average of $13.13. The stock has a market capitalization of $3.42 billion and a price-to-earnings ratio of -2.27.

Insider Buying and Selling

In related news, CEO Adam Taylor Sullivan sold 88,380 shares of the stock in a transaction 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 owns 4,128,505 shares in the company, valued at approximately $58,789,911.20. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the transaction, the insider now owns 2,051,649 shares of the company’s stock, valued at $29,215,481.76. The trade was a 5.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 744,032 shares of company stock worth $11,863,966. 32.00% of the stock is owned by insiders.

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.