Soros Capital Management LLC Boosts Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Soros Capital Management LLC increased its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 34.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,158,449 shares of the company's stock after purchasing an additional 296,300 shares during the period. Core Scientific makes up about 2.6% of Soros Capital Management LLC's investment portfolio, making the stock its 13th largest position. Soros Capital Management LLC owned about 0.41% of Core Scientific worth $16,276,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research note on Monday, January 27th. They set an "outperform" rating and a $22.00 price target for the company. Compass Point dropped their price target on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a report on Wednesday, March 12th. HC Wainwright restated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, March 11th. Finally, Needham & Company LLC dropped their price objective on shares of 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $19.07.

Insiders Place Their Bets

In other news, Director Jordan Levy acquired 62,500 shares of Core Scientific stock in a transaction dated 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 owns 306,887 shares of the company's stock, valued at $2,458,164.87. This trade represents a 25.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific 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 sale, the director now directly owns 195,687 shares of the company's stock, valued at approximately $2,103,635.25. This trade represents a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 529,239 shares of company stock worth $7,857,809 in the last ninety days. 1.40% of the stock is owned by corporate insiders.

Core Scientific Trading Up 5.8 %

CORZ traded up $0.41 on Thursday, hitting $7.53. The company had a trading volume of 10,331,010 shares, compared to its average volume of 12,600,508. Core Scientific, Inc. has a 1 year low of $2.88 and a 1 year high of $18.63. The firm has a market cap of $2.22 billion, a P/E ratio of -1.39 and a beta of 6.80. The company's fifty day moving average price is $8.47 and its 200 day moving average price is $12.43.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted 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. On average, analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current 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.