Soros Capital Management LLC Reduces Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Soros Capital Management LLC decreased its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 42.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 862,149 shares of the company’s stock after selling 648,451 shares during the quarter. Core Scientific accounts for about 2.5% of Soros Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Soros Capital Management LLC’s holdings in Core Scientific were worth $10,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. P Schoenfeld Asset Management LP purchased a new position in Core Scientific during the second quarter valued at approximately $4,185,000. Vanguard Group Inc. purchased a new position in Core Scientific during the first quarter valued at approximately $21,973,000. Highland Peak Capital LLC lifted its holdings in Core Scientific by 37.9% during the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after purchasing an additional 113,584 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Core Scientific by 22.9% during the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after purchasing an additional 300,942 shares in the last quarter. Finally, DeepCurrents Investment Group LLC lifted its holdings in Core Scientific by 157.7% during the second quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock valued at $2,373,000 after purchasing an additional 156,162 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Core Scientific in a report on Monday, September 23rd. They set a “buy” rating and a $16.00 price target on the stock. Roth Mkm assumed coverage on shares of Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price target on the stock. B. Riley lifted their price target on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC boosted their target price on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Core Scientific currently has an average rating of “Buy” and a consensus price target of $18.38.

Insider Buying and Selling

In other news, Director Jarrod M. Patten acquired 5,021 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the transaction, the director now directly owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. The trade was a 1.79 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the business’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 transaction, the director now owns 345,239 shares in the company, valued at $6,252,278.29. This trade represents a 23.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 8,761 shares of company stock worth $88,280.

Core Scientific Stock Performance

Shares of CORZ opened at $17.12 on Wednesday. The company’s fifty day moving average is $13.92 and its 200 day moving average is $10.62. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63.

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.