Advantage Alpha Capital Partners LP Buys Shares of 134,102 Core Scientific, Inc. (NASDAQ:CORZ)

Advantage Alpha Capital Partners LP acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 134,102 shares of the company's stock, valued at approximately $1,884,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Shields & Co. LLC acquired a new position in Core Scientific in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. purchased a new stake in shares of Core Scientific during the 4th quarter worth approximately $34,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Core Scientific in the 4th quarter valued at $42,000. Vestcor Inc acquired a new position in shares of Core Scientific in the 4th quarter valued at $66,000. Finally, US Bancorp DE purchased a new position in shares of Core Scientific in the 4th quarter valued at $99,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CORZ shares. Cantor Fitzgerald reduced their price target on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC decreased their target price on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group restated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research note on Wednesday, March 12th. Craig Hallum initiated coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $19.07.

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Insider Activity

In related news, insider Todd M. Duchene sold 129,861 shares of Core Scientific stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the completion of the transaction, the insider now directly owns 2,051,649 shares of the company's stock, valued at approximately $29,215,481.76. The trade was a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Todd A. Becker sold 134,250 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total value of $1,443,187.50. Following the completion of the sale, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. This trade represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 748,282 shares of company stock worth $10,978,104. Company insiders own 32.00% of the company's stock.

Core Scientific Stock Down 5.1 %

Shares of Core Scientific stock traded down $0.40 during trading on Friday, reaching $7.48. The company's stock had a trading volume of 44,053,519 shares, compared to its average volume of 11,579,443. The business has a 50 day moving average price of $10.89 and a 200-day moving average price of $13.08. The company has a market capitalization of $2.20 billion, a P/E ratio of -1.38 and a beta of 6.83. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping 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. Research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

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.