Arrowstreet Capital Limited Partnership bought a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,832,910 shares of the company's stock, valued at approximately $25,752,000. Arrowstreet Capital Limited Partnership owned approximately 0.66% of Core Scientific at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Wellington Shields & Co. LLC bought a new stake in Core Scientific in the fourth quarter valued at $26,000. First Horizon Advisors Inc. acquired a new position in Core Scientific during the 4th quarter worth approximately $34,000. Newbridge Financial Services Group Inc. bought a new position in Core Scientific in the fourth quarter worth approximately $42,000. Vestcor Inc bought a new position in Core Scientific in the fourth quarter worth approximately $66,000. Finally, US Bancorp DE acquired a new stake in Core Scientific in the fourth quarter valued at approximately $99,000.
Core Scientific Stock Down 7.3 %
CORZ traded down $0.51 during trading on Tuesday, hitting $6.51. 24,618,108 shares of the company traded hands, compared to its average volume of 12,169,648. The firm has a market cap of $1.92 billion, a P/E ratio of -1.20 and a beta of 6.80. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63. The stock's fifty day moving average is $9.79 and its 200 day moving average is $12.88.
Core Scientific (NASDAQ:CORZ - Get Free Report) last announced 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 firm had revenue of $94.93 million during the quarter, compared to analysts' expectations of $97.07 million. On average, equities research analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
CORZ has been the topic of a number of research reports. Cantor Fitzgerald lowered their target price on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group restated a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a report on Wednesday, March 12th. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a report on Monday, January 27th. They set an "outperform" rating and a $22.00 price objective for the company. Needham & Company LLC lowered their target price on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, BTIG Research lifted their price target on Core Scientific from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $19.07.
Check Out Our Latest Stock Report on Core Scientific
Insider Transactions at Core Scientific
In related news, insider Todd M. Duchene sold 25,277 shares of Core Scientific stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the transaction, the insider now directly owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. The trade was a 1.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jordan Levy bought 62,500 shares of the stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the acquisition, the director now directly owns 306,887 shares in the company, valued at approximately $2,458,164.87. This trade represents a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 530,041 shares of company stock worth $7,870,352 over the last quarter. Corporate insiders own 32.00% of the company's stock.
Core Scientific Profile
(
Free Report)
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.
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