KDK Private Wealth Management LLC Invests $205,000 in Core Scientific, Inc. (NASDAQ:CORZ)

KDK Private Wealth Management LLC bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,557 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors also recently bought and sold shares of CORZ. FMR LLC grew its position in Core Scientific by 2,937.7% during the 4th quarter. FMR LLC now owns 7,436,229 shares of the company’s stock worth $104,479,000 after purchasing an additional 7,191,428 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Core Scientific by 54.3% in the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock valued at $272,270,000 after acquiring an additional 6,819,406 shares during the period. Helix Partners Management LP acquired a new position in shares of Core Scientific in the 4th quarter valued at $86,498,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Core Scientific during the 4th quarter valued at about $25,752,000. Finally, Aurelius Capital Management LP acquired a new stake in Core Scientific in the fourth quarter valued at approximately $17,942,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CORZ. Needham & Company LLC reduced their price target on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, March 11th. Cantor Fitzgerald cut their target price on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Compass Point decreased their price objective on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Craig Hallum started coverage on Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price on the stock. Fifteen 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 has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific Stock Performance

Shares of NASDAQ CORZ opened at $6.82 on Friday. The stock’s 50-day simple moving average is $9.49 and its 200-day simple moving average is $12.76. The firm has a market capitalization of $2.01 billion, a PE ratio of -1.26 and a beta of 6.80. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. On average, sell-side analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jordan Levy purchased 62,500 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the transaction, the director now directly owns 306,887 shares of the company’s stock, valued at approximately $2,458,164.87. The trade was a 25.57 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $6,004,122.88. Following the completion of the transaction, the chief executive officer now directly owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. The trade was a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 530,041 shares of company stock worth $7,870,352 in the last ninety days. 32.00% of the stock is owned by corporate insiders.

Core Scientific Company 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.