Core Scientific, Inc. (NASDAQ:CORZ) Short Interest Update

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 44,670,000 shares, an increase of 13.2% from the December 15th total of 39,460,000 shares. Approximately 18.5% of the company’s stock are short sold. Based on an average daily trading volume, of 10,740,000 shares, the short-interest ratio is presently 4.2 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Roth Mkm started coverage on shares of Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Thursday, November 7th. HC Wainwright raised their target price on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Compass Point raised their target price on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group began coverage on shares of Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 target price on the stock. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $18.46.

Core Scientific Price Performance

Shares of CORZ traded up $0.37 during mid-day trading on Friday, reaching $15.00. 8,879,625 shares of the company’s stock were exchanged, compared to its average volume of 8,324,011. The stock has a market capitalization of $4.19 billion and a PE ratio of -2.77. The business’s fifty day simple moving average is $15.63 and its 200-day simple moving average is $12.77. Core Scientific has a 52-week low of $2.61 and a 52-week high of $18.63.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were 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. This represents a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the sale, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at $58,789,911.20. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 348,241 shares of company stock valued at $5,436,802 in the last 90 days.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently bought and sold shares of CORZ. ORG Wealth Partners LLC purchased a new position in Core Scientific in the 3rd quarter valued at $106,266,000. Rush Island Management LP purchased a new position in Core Scientific in the 3rd quarter valued at $32,221,000. Taconic Capital Advisors LP grew its position in Core Scientific by 178.7% in the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after buying an additional 1,742,462 shares during the last quarter. Mirabella Financial Services LLP purchased a new position in Core Scientific in the 3rd quarter valued at $18,383,000. Finally, Geode Capital Management LLC grew its position in Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after buying an additional 1,113,285 shares during the last quarter.

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.