Aurelius Capital Management LP Takes Position in Core Scientific, Inc. (NASDAQ:CORZ)

Aurelius Capital Management LP acquired a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,276,977 shares of the company's stock, valued at approximately $17,942,000. Core Scientific accounts for 40.2% of Aurelius Capital Management LP's portfolio, making the stock its 2nd largest position. Aurelius Capital Management LP owned about 0.46% of Core Scientific at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Trexquant Investment LP purchased a new position in Core Scientific in the 4th quarter valued at $5,539,000. Geode Capital Management LLC lifted its stake in shares of Core Scientific by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 5,532,715 shares of the company's stock worth $77,756,000 after buying an additional 256,142 shares in the last quarter. OLD Mission Capital LLC boosted its position in Core Scientific by 146.5% during the fourth quarter. OLD Mission Capital LLC now owns 32,192 shares of the company's stock worth $452,000 after acquiring an additional 19,131 shares during the last quarter. Alliancebernstein L.P. grew its stake in Core Scientific by 8.7% during the 4th quarter. Alliancebernstein L.P. now owns 202,859 shares of the company's stock valued at $2,850,000 after acquiring an additional 16,239 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Core Scientific in the 4th quarter valued at about $25,752,000.

Analysts Set New Price Targets

CORZ has been the subject of a number of analyst reports. BTIG Research upped their price target on Core Scientific from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. Needham & Company LLC cut their target price 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. HC Wainwright reissued a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, March 11th. Finally, Craig Hallum started coverage on shares of Core Scientific in a report on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price objective for the company. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $19.07.

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Insiders Place Their Bets

In related news, Director Todd A. Becker sold 134,250 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the completion of the transaction, the director now directly owns 195,687 shares of the company's stock, valued at $2,103,635.25. The trade was a 40.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jordan Levy purchased 62,500 shares of Core Scientific stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the transaction, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. This represents a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 530,041 shares of company stock worth $7,870,352 in the last ninety days. 32.00% of the stock is owned by corporate insiders.

Core Scientific Stock Performance

Shares of CORZ traded up $0.03 during midday trading on Friday, hitting $7.18. 24,842,286 shares of the stock were exchanged, compared to its average volume of 12,001,431. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.63. The stock has a fifty day simple moving average of $10.07 and a 200 day simple moving average of $12.98. The firm has a market cap of $2.12 billion, a P/E ratio of -1.33 and a beta of 6.80.

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