Tidal Investments LLC Sells 618,320 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Tidal Investments LLC reduced its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 15.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,318,996 shares of the company’s stock after selling 618,320 shares during the quarter. Tidal Investments LLC owned approximately 1.19% of Core Scientific worth $39,363,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in shares of Core Scientific in the second quarter valued at $28,000. Sunbelt Securities Inc. acquired a new stake in Core Scientific during the 2nd quarter valued at $33,000. Divisadero Street Capital Management LP acquired a new stake in shares of Core Scientific during the second quarter worth $93,000. Rise Advisors LLC lifted its holdings in shares of Core Scientific by 14.3% during the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after buying an additional 1,000 shares in the last quarter. Finally, Xponance Inc. acquired a new stake in shares of Core Scientific during the second quarter worth $104,000.

Core Scientific Price Performance

Shares of Core Scientific stock traded up $0.17 during midday trading on Thursday, reaching $16.03. The company had a trading volume of 1,233,625 shares, compared to its average volume of 9,042,629. The stock has a fifty day moving average price of $14.94 and a 200 day moving average price of $11.56. The firm has a market cap of $4.48 billion and a PE ratio of -2.93. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total value of $427,500.00. Following the transaction, the insider now directly owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yadin Rozov sold 105,000 shares of the company’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 value of $1,901,550.00. Following the transaction, the director now directly owns 345,239 shares in the company, valued at $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CORZ. Needham & Company LLC lifted their target price on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group started coverage on Core Scientific in a research note on Monday, September 23rd. They issued a “buy” rating and a $16.00 price target for the company. Compass Point boosted their price target on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, September 10th. Finally, Roth Mkm started coverage on Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 price target for the company. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Core Scientific presently has a consensus rating of “Buy” and an average price target of $18.38.

Core Scientific Company 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.