EAM Investors LLC Makes New Investment in Core Scientific, Inc. (NASDAQ:CORZ)

EAM Investors LLC acquired a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 282,607 shares of the company's stock, valued at approximately $3,971,000. EAM Investors LLC owned 0.10% of Core Scientific as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Guggenheim Capital LLC bought a new position in shares of Core Scientific during the fourth quarter worth $234,000. Chiron Investment Management LLC acquired a new position in Core Scientific in the fourth quarter valued at about $1,070,000. Portolan Capital Management LLC increased its holdings in shares of Core Scientific by 85.8% in the fourth quarter. Portolan Capital Management LLC now owns 1,025,508 shares of the company's stock worth $14,408,000 after acquiring an additional 473,531 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Core Scientific by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company's stock valued at $262,000 after purchasing an additional 1,185 shares in the last quarter. Finally, BTG Pactual Asset Management US LLC acquired a new position in shares of Core Scientific in the 4th quarter valued at approximately $16,860,000.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 25,277 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $410,498.48. Following the completion of the sale, the insider now owns 2,023,423 shares of the company's stock, valued at approximately $32,860,389.52. This represents a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the transaction, the chief executive officer now directly owns 3,758,793 shares of the company's stock, valued at $61,042,798.32. This trade represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 530,041 shares of company stock worth $7,870,352 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, March 11th. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a research note on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price for the company. Needham & Company LLC cut their target price 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. Craig Hallum began coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target for the company. Finally, Compass Point cut their price objective on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Core Scientific has an average rating of "Buy" and a consensus target price of $19.07.

Core Scientific Stock Performance

Shares of CORZ stock traded down $0.10 during midday trading on Monday, hitting $6.53. 2,830,424 shares of the company were exchanged, compared to its average volume of 12,486,103. The firm has a market capitalization of $1.93 billion, a P/E ratio of -1.21 and a beta of 6.80. Core Scientific, Inc. has a 52 week low of $2.88 and a 52 week high of $18.63. The firm's 50 day moving average price is $8.81 and its two-hundred day moving average price is $12.55.

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

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.