FNY Investment Advisers LLC Purchases 50,275 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

FNY Investment Advisers LLC increased its position in Core Scientific, Inc. (NASDAQ:CORZ) by 35.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 190,747 shares of the company’s stock after purchasing an additional 50,275 shares during the quarter. Core Scientific makes up 1.4% of FNY Investment Advisers LLC’s holdings, making the stock its 17th largest position. FNY Investment Advisers LLC owned about 0.07% of Core Scientific worth $2,679,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. bought a new stake in Core Scientific in the second quarter valued at approximately $33,000. Divisadero Street Capital Management LP acquired a new position in shares of Core Scientific during the 2nd quarter worth approximately $93,000. Rise Advisors LLC increased its holdings in shares of Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after acquiring an additional 1,000 shares during the last quarter. Xponance Inc. bought a new stake in Core Scientific in the 2nd quarter valued at $104,000. Finally, Amalgamated Bank acquired a new stake in Core Scientific during the 2nd quarter valued at $115,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a report on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 price target on the stock. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group started coverage on Core Scientific in a report on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. Finally, B. Riley increased their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $18.46.

Insider Buying and Selling

In related news, CEO Adam Taylor Sullivan sold 88,380 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,258,531.20. Following the completion of the transaction, the chief executive officer now owns 4,128,505 shares of the company’s stock, valued at $58,789,911.20. This represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yadin Rozov sold 105,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the sale, the director now directly owns 345,239 shares in the company, valued at approximately $6,252,278.29. The trade was a 23.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 348,241 shares of company stock worth $5,436,802. Corporate insiders own 32.00% of the company’s stock.

Core Scientific Stock Down 3.1 %

Shares of Core Scientific stock opened at $13.60 on Tuesday. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63. The company has a market capitalization of $3.80 billion and a price-to-earnings ratio of -2.51. The firm’s 50-day moving average price is $15.68 and its two-hundred day moving average price is $12.68.

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.