Dilation Capital Management LP Takes $1.20 Million Position in Core Scientific, Inc. (NASDAQ:CORZ)

Dilation Capital Management LP purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 85,490 shares of the company's stock, valued at approximately $1,201,000. Core Scientific makes up about 1.1% of Dilation Capital Management LP's holdings, making the stock its 20th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in CORZ. FMR LLC lifted its position in shares of Core Scientific by 2,937.7% in the fourth quarter. FMR LLC now owns 7,436,229 shares of the company's stock worth $104,479,000 after purchasing an additional 7,191,428 shares in the last quarter. Vanguard Group Inc. lifted its position in Core Scientific by 54.3% during the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock worth $272,270,000 after buying an additional 6,819,406 shares in the last quarter. Helix Partners Management LP bought a new stake in Core Scientific during the 4th quarter worth about $86,498,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Core Scientific during the 4th quarter worth about $25,752,000. Finally, Aurelius Capital Management LP bought a new position in Core Scientific in the fourth quarter valued at approximately $17,942,000.

Insider Activity at Core Scientific

In related news, Director Jordan Levy bought 62,500 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the transaction, the director now owns 306,887 shares in the company, valued at $2,458,164.87. The trade was a 25.57 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the completion of the transaction, the director now owns 195,687 shares in the company, valued at $2,103,635.25. The trade was a 40.69 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Core Scientific Trading Up 10.4 %

CORZ stock traded up $0.78 during trading hours on Friday, hitting $8.31. 13,719,523 shares of the stock were exchanged, compared to its average volume of 12,642,408. Core Scientific, Inc. has a 12 month low of $2.88 and a 12 month high of $18.63. The firm has a market capitalization of $2.45 billion, a P/E ratio of -1.54 and a beta of 6.80. The company has a 50-day simple moving average of $8.29 and a two-hundred day simple moving average of $12.37.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to the consensus estimate of $97.07 million. On average, equities research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CORZ. Keefe, Bruyette & Woods began coverage on Core Scientific in a report on Monday, January 27th. They issued an "outperform" rating and a $22.00 price objective for the company. Cantor Fitzgerald decreased their price objective on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a report on Tuesday, March 11th. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a research note on Wednesday, March 12th. Finally, Craig Hallum began coverage on Core Scientific in a research report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target on the stock. 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, the stock presently has an average rating of "Buy" and a consensus target price of $19.07.

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.