Soros Capital Management LLC Sells 648,451 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Soros Capital Management LLC lowered its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 42.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 862,149 shares of the company’s stock after selling 648,451 shares during the period. Core Scientific comprises about 2.5% of Soros Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Soros Capital Management LLC owned 0.31% of Core Scientific worth $10,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC purchased a new stake in Core Scientific during the 3rd quarter valued at $2,903,000. The Manufacturers Life Insurance Company boosted its position in Core Scientific by 76.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 113,257 shares of the company’s stock valued at $1,343,000 after buying an additional 48,929 shares during the period. Qsemble Capital Management LP purchased a new stake in Core Scientific during the 3rd quarter valued at $331,000. Mirabella Financial Services LLP purchased a new stake in shares of Core Scientific in the 3rd quarter worth about $18,383,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Core Scientific by 48.8% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 34,786 shares of the company’s stock worth $413,000 after purchasing an additional 11,412 shares during the period.

Core Scientific Trading Down 5.5 %

Shares of CORZ stock opened at $17.12 on Wednesday. The company has a 50 day moving average price of $13.92 and a 200-day moving average price of $10.62. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Macquarie raised their target price on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Roth Mkm assumed coverage on shares of Core Scientific in a research report on Friday, November 15th. They issued a “buy” rating and a $25.50 target price for the company. Needham & Company LLC raised their target price on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, BTIG Research raised their target price on shares of Core Scientific from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Core Scientific currently has an average rating of “Buy” and an average target price of $18.38.

Insider Transactions at Core Scientific

In related news, Director Jarrod M. Patten purchased 5,021 shares of Core Scientific stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the purchase, the director now directly owns 285,760 shares of the company’s stock, valued at $2,766,156.80. The trade was a 1.79 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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. Insiders purchased 8,761 shares of company stock worth $88,280 over the last three months.

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.