Core Scientific, Inc. (NASDAQ:CORZ) Shares Sold by Corbin Capital Partners L.P.

Corbin Capital Partners L.P. lessened its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 60.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 402,013 shares of the company's stock after selling 625,318 shares during the period. Core Scientific makes up 9.3% of Corbin Capital Partners L.P.'s portfolio, making the stock its 4th biggest position. Corbin Capital Partners L.P. owned about 0.14% of Core Scientific worth $5,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Xponance Inc. increased its position in shares of Core Scientific by 7.9% during the 4th quarter. Xponance Inc. now owns 12,800 shares of the company's stock worth $180,000 after purchasing an additional 937 shares in the last quarter. Intech Investment Management LLC grew its stake in Core Scientific by 195.6% during the fourth quarter. Intech Investment Management LLC now owns 78,607 shares of the company's stock worth $1,104,000 after buying an additional 52,014 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Core Scientific during the fourth quarter worth approximately $235,000. Corient Private Wealth LLC bought a new position in shares of Core Scientific in the fourth quarter valued at approximately $1,411,000. Finally, Natixis Advisors LLC boosted its holdings in shares of Core Scientific by 345.0% in the 4th quarter. Natixis Advisors LLC now owns 94,573 shares of the company's stock worth $1,329,000 after acquiring an additional 73,319 shares in the last quarter.

Remove Ads

Core Scientific Price Performance

Shares of CORZ stock traded down $0.65 during trading hours on Tuesday, reaching $8.66. The company had a trading volume of 11,289,149 shares, compared to its average volume of 11,087,260. Core Scientific, Inc. has a 1-year low of $2.61 and a 1-year high of $18.63. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -1.60 and a beta of 6.83. The company has a 50 day moving average of $11.41 and a 200 day moving average of $13.18.

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 company had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. As a group, sell-side analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CORZ shares. BTIG Research raised their price target on Core Scientific from $19.00 to $20.00 and gave the company a "buy" rating in a 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 research note on Wednesday, March 12th. Cantor Fitzgerald reduced their price target on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC lowered their price objective on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Craig Hallum started coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 target price for the company. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $19.07.

Insider Activity at Core Scientific

In other news, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction dated 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 sale, the director now owns 195,687 shares of the company's stock, valued at $2,103,635.25. This trade represents a 40.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,258,531.20. Following the transaction, the chief executive officer now owns 4,128,505 shares in the company, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 748,282 shares of company stock worth $10,978,104 in the last ninety days. Company insiders own 32.00% of the company's stock.

Core Scientific Company 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.