35,000 Shares in Core Scientific, Inc. $CORZ Acquired by Connective Portfolio Management LLC

Connective Portfolio Management LLC purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,000 shares of the company’s stock, valued at approximately $607,000.

Several other large investors have also recently modified their holdings of the business. Tactive Advisors LLC grew its stake in shares of Core Scientific by 30.7% in the third quarter. Tactive Advisors LLC now owns 19,402 shares of the company’s stock worth $348,000 after purchasing an additional 4,553 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Core Scientific by 56.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,055,801 shares of the company’s stock valued at $18,941,000 after buying an additional 380,256 shares during the last quarter. Sanders Morris Harris LLC grew its position in shares of Core Scientific by 2,786.5% in the 3rd quarter. Sanders Morris Harris LLC now owns 308,855 shares of the company’s stock valued at $5,190,000 after buying an additional 298,155 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Core Scientific by 112.1% in the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after buying an additional 1,066 shares during the period. Finally, Orion Porfolio Solutions LLC raised its position in shares of Core Scientific by 12.5% during the second quarter. Orion Porfolio Solutions LLC now owns 14,773 shares of the company’s stock worth $252,000 after acquiring an additional 1,640 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CORZ. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a report on Wednesday, October 8th. Compass Point started coverage on shares of Core Scientific in a research report on Monday, September 15th. They issued a “buy” rating on the stock. Citizens Jmp upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Thursday, December 18th. HC Wainwright raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, October 28th. Finally, Zacks Research raised shares of Core Scientific from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Core Scientific has a consensus rating of “Moderate Buy” and an average target price of $23.18.

Core Scientific Stock Down 1.8%

Core Scientific stock opened at $15.29 on Friday. The company has a market capitalization of $4.74 billion, a PE ratio of 101.94 and a beta of 6.77. Core Scientific, Inc. has a 12-month low of $6.20 and a 12-month high of $23.63. The firm’s fifty day moving average is $17.28 and its 200 day moving average is $15.76.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Friday, October 24th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.39. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $107.18 million. Sell-side analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric Stanton Weiss purchased 5,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were acquired at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the completion of the acquisition, the director owned 226,687 shares in the company, valued at approximately $4,873,770.50. The trade was a 2.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.