Core Scientific, Inc. $CORZ Stock: CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Grows Position

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 5,468.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 389,800 shares of the company’s stock after acquiring an additional 382,800 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Core Scientific were worth $6,229,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Core Scientific during the second quarter valued at about $719,649,000. Apollo Management Holdings L.P. bought a new stake in shares of Core Scientific in the 2nd quarter worth about $115,671,000. Avala Global LP purchased a new position in Core Scientific in the second quarter worth about $101,729,000. Bank of America Corp DE purchased a new position in Core Scientific in the second quarter worth about $93,668,000. Finally, Squarepoint Ops LLC increased its stake in Core Scientific by 64.1% during the second quarter. Squarepoint Ops LLC now owns 2,686,177 shares of the company’s stock worth $68,739,000 after acquiring an additional 1,049,678 shares during the last quarter.

Core Scientific Stock Up 3.1%

Shares of NASDAQ CORZ opened at $13.51 on Tuesday. Core Scientific, Inc. has a twelve month low of $12.31 and a twelve month high of $30.46. The business has a fifty day simple moving average of $16.57 and a two-hundred day simple moving average of $19.68.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The firm had revenue of $164.20 million for the quarter, compared to analyst estimates of $144.83 million. As a group, sell-side analysts expect that Core Scientific, Inc. will post -1.36 EPS for the current year.

Insider Buying and Selling

In other Core Scientific news, Director Eric Weiss acquired 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average price of $19.19 per share, for a total transaction of $134,330.00. Following the acquisition, the director owned 259,262 shares in the company, valued at approximately $4,975,237.78. This trade represents a 2.77% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd DuChene sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $19.97, for a total value of $199,700.00. Following the completion of the sale, the insider directly owned 1,969,101 shares of the company’s stock, valued at approximately $39,322,946.97. This represents a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders bought 19,000 shares of company stock worth $342,290 and sold 90,000 shares worth $1,587,500. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Rothschild & Co Redburn started coverage on Core Scientific in a research report on Monday, September 21st. They set a “neutral” rating and a $16.00 price objective on the stock. Citigroup reiterated a “market outperform” rating on shares of Core Scientific in a report on Wednesday, October 14th. Wolfe Research reissued a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. Needham & Company LLC increased their price target on Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, B. Riley Financial raised their price target on Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.78.

About Core Scientific

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.

Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.