ACR Alpine Capital Research LLC Sells 53,100 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

ACR Alpine Capital Research LLC trimmed its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 30.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,000 shares of the company's stock after selling 53,100 shares during the quarter. ACR Alpine Capital Research LLC's holdings in Core Scientific were worth $1,728,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC grew its position in Core Scientific by 0.3% during the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company's stock valued at $126,262,000 after buying an additional 26,649 shares during the period. Parsifal Capital Management LP boosted its stake in Core Scientific by 3.9% in the third quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company's stock valued at $64,196,000 after acquiring an additional 204,314 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Core Scientific by 26.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company's stock valued at $62,594,000 after acquiring an additional 1,113,285 shares during the period. State Street Corp increased its stake in shares of Core Scientific by 17.0% during the 3rd quarter. State Street Corp now owns 4,006,922 shares of the company's stock worth $47,522,000 after purchasing an additional 583,493 shares during the last quarter. Finally, Taconic Capital Advisors LP increased its stake in shares of Core Scientific by 178.7% during the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company's stock worth $32,229,000 after purchasing an additional 1,742,462 shares during the last quarter.

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Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CORZ shares. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Thursday, February 27th. Needham & Company LLC cut their price target on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. B. Riley lifted their price objective on Core Scientific from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a report on Monday, January 27th. They set an "outperform" rating and a $22.00 price objective on the stock. Finally, Macquarie increased their target price on shares of Core Scientific from $16.00 to $19.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Core Scientific currently has an average rating of "Buy" and a consensus price target of $19.07.

Insider Transactions at Core Scientific

In related news, CEO Adam Taylor Sullivan sold 369,712 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the transaction, the chief executive officer now directly owns 3,758,793 shares of the company's stock, valued at approximately $61,042,798.32. This trade represents a 8.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Todd M. Duchene sold 25,277 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now owns 2,023,423 shares of the company's stock, valued at $32,860,389.52. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 748,282 shares of company stock valued at $10,978,104. Insiders own 32.00% of the company's stock.

Core Scientific Price Performance

NASDAQ CORZ traded down $1.75 during trading on Thursday, reaching $7.85. The company's stock had a trading volume of 56,877,111 shares, compared to its average volume of 10,377,876. The stock has a market capitalization of $2.31 billion, a PE ratio of -1.45 and a beta of 6.83. The firm has a fifty day moving average of $12.91 and a 200 day moving average of $13.31. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. Research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal 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.