Mercuria Capital Strategies LLC Takes Position in Core Scientific, Inc. (NASDAQ:CORZ)

Mercuria Capital Strategies LLC bought a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 175,000 shares of the company's stock, valued at approximately $2,459,000. Core Scientific comprises 0.9% of Mercuria Capital Strategies LLC's holdings, making the stock its 9th biggest position. Mercuria Capital Strategies LLC owned about 0.06% of Core Scientific at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. First Horizon Advisors Inc. bought a new position in shares of Core Scientific in the fourth quarter valued at approximately $34,000. Newbridge Financial Services Group Inc. acquired a new position in Core Scientific in the 4th quarter valued at $42,000. Vestcor Inc bought a new position in Core Scientific in the 4th quarter worth $66,000. US Bancorp DE acquired a new position in Core Scientific during the 4th quarter worth $99,000. Finally, KBC Group NV acquired a new position in Core Scientific during the 4th quarter worth $114,000.

Insider Activity at Core Scientific

In other news, Director Jordan Levy acquired 62,500 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $8.01 per share, with a total value of $500,625.00. Following the completion of the acquisition, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. This represents a 25.57 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the completion of the transaction, the chief executive officer now owns 4,128,505 shares of the company's stock, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 748,282 shares of company stock valued at $10,978,104 in the last 90 days. 32.00% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research report on Tuesday, March 11th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. Keefe, Bruyette & Woods initiated coverage on Core Scientific in a report on Monday, January 27th. They set an "outperform" rating and a $22.00 price target for the company. Craig Hallum started coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price objective on the stock. Finally, Compass Point dropped their target price on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Fifteen equities research 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 stock presently has a consensus rating of "Buy" and a consensus target price of $19.07.

Core Scientific Price Performance

Shares of Core Scientific stock traded down $0.05 during trading on Monday, hitting $8.76. 11,888,865 shares of the company's stock traded hands, compared to its average volume of 10,810,953. The company has a market cap of $2.58 billion, a PE ratio of -1.62 and a beta of 6.83. The firm's fifty day moving average price is $12.08 and its 200 day moving average price is $13.24. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. As a group, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

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.