Marshall Wace LLP Acquires 1,042,587 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Marshall Wace LLP lifted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 233.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,489,261 shares of the company's stock after acquiring an additional 1,042,587 shares during the period. Marshall Wace LLP owned approximately 0.53% of Core Scientific worth $20,924,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. EAM Global Investors LLC bought a new position in Core Scientific during the fourth quarter worth about $3,244,000. EAM Investors LLC acquired a new position in shares of Core Scientific in the 4th quarter worth approximately $3,971,000. Guggenheim Capital LLC bought a new position in shares of Core Scientific during the 4th quarter worth approximately $234,000. Chiron Investment Management LLC acquired a new stake in Core Scientific in the 4th quarter valued at $1,070,000. Finally, Portolan Capital Management LLC grew its position in Core Scientific by 85.8% in the fourth quarter. Portolan Capital Management LLC now owns 1,025,508 shares of the company's stock valued at $14,408,000 after acquiring an additional 473,531 shares during the period.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Craig Hallum initiated coverage on Core Scientific in a report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, March 11th. Needham & Company LLC decreased their target price on Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a report on Monday, January 27th. They issued an "outperform" rating and a $22.00 price target for the company. Finally, Compass Point reduced their price target 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Core Scientific has a consensus rating of "Buy" and an average target price of $19.07.

Core Scientific Stock Up 5.8 %

Shares of CORZ stock traded up $0.41 on Thursday, reaching $7.53. The stock had a trading volume of 10,316,518 shares, compared to its average volume of 12,560,811. The firm's 50-day moving average is $8.47 and its two-hundred day moving average is $12.43. 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 $2.22 billion, a price-to-earnings ratio of -1.39 and a beta of 6.80.

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

Insider Activity at Core Scientific

In related news, Director Jordan Levy bought 62,500 shares of the company's stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the transaction, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. This trade represents a 25.57 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the completion of the transaction, the chief executive officer now directly owns 3,758,793 shares in the company, valued at $61,042,798.32. The trade was a 8.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 529,239 shares of company stock valued at $7,857,809. Corporate insiders own 1.40% 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.