Newbridge Financial Services Group Inc. Purchases Shares of 3,000 Core Scientific, Inc. (NASDAQ:CORZ)

Newbridge Financial Services Group Inc. purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,000 shares of the company’s stock, valued at approximately $42,000.

A number of other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in shares of Core Scientific in the second quarter valued at about $598,000. Sanctuary Advisors LLC bought a new position in shares of Core Scientific in the second quarter valued at about $140,000. Creative Planning raised its position in shares of Core Scientific by 88.0% in the third quarter. Creative Planning now owns 32,925 shares of the company’s stock valued at $389,000 after purchasing an additional 15,413 shares during the period. Aspect Partners LLC raised its position in shares of Core Scientific by 328.9% in the third quarter. Aspect Partners LLC now owns 35,678 shares of the company’s stock valued at $423,000 after purchasing an additional 27,360 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of Core Scientific by 10.4% in the third quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock valued at $452,000 after purchasing an additional 3,591 shares during the period.

Insider Buying and Selling at Core Scientific

In other news, CEO Adam Taylor Sullivan sold 88,380 shares of the firm’s 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 sale, the chief executive officer now directly owns 4,128,505 shares in the company, valued at approximately $58,789,911.20. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yadin Rozov sold 105,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 345,239 shares in the company, valued at approximately $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. Insiders have sold a total of 744,032 shares of company stock valued at $11,863,966 in the last ninety days. 32.00% of the stock is currently owned by company insiders.

Core Scientific Stock Down 4.4 %

CORZ stock opened at $12.26 on Wednesday. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The firm has a market cap of $3.42 billion and a P/E ratio of -2.27. The company’s 50-day moving average price is $14.44 and its two-hundred day moving average price is $13.13.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Macquarie increased their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. HC Wainwright increased their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the company 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. Jefferies Financial Group assumed coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 price target on the stock. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $19.07.

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.