Capital Fund Management S.A. acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 136,668 shares of the company's stock, valued at approximately $1,920,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Shields & Co. LLC acquired a new position in shares of Core Scientific during the fourth quarter valued at about $26,000. First Horizon Advisors Inc. purchased a new position in Core Scientific in the fourth quarter worth $34,000. Newbridge Financial Services Group Inc. purchased a new stake in Core Scientific during the fourth quarter valued at about $42,000. Vestcor Inc purchased a new position in Core Scientific in the 4th quarter valued at approximately $66,000. Finally, US Bancorp DE bought a new stake in shares of Core Scientific during the 4th quarter valued at $99,000.
Core Scientific Price Performance
Shares of NASDAQ:CORZ traded up $0.04 during trading on Friday, hitting $6.63. The company had a trading volume of 9,748,300 shares, compared to its average volume of 12,485,531. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -1.23 and a beta of 6.80. The company has a fifty day simple moving average of $8.81 and a two-hundred day simple moving average of $12.54. Core Scientific, Inc. has a one year low of $2.86 and a one year high of $18.63.
Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analysts' expectations of $97.07 million. On average, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on CORZ. Craig Hallum began coverage on shares of Core Scientific in a report on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price target on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research note on Wednesday, March 12th. HC Wainwright restated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods began coverage on shares of Core Scientific in a research note on Monday, January 27th. They set an "outperform" rating and a $22.00 price objective for the company. Finally, Needham & Company LLC dropped their price target on Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $19.07.
View Our Latest Stock Report on CORZ
Insiders Place Their Bets
In other Core Scientific news, insider Todd M. Duchene sold 25,277 shares of Core Scientific stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the transaction, the insider now owns 2,023,423 shares in the company, valued at $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jordan Levy acquired 62,500 shares of Core Scientific stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $8.01 per share, with a total value of $500,625.00. Following the purchase, the director now 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 530,041 shares of company stock worth $7,870,352 in the last three months. Corporate insiders own 1.40% of the company's stock.
About Core Scientific
(
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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