528,074 Shares in Core Scientific, Inc. (NASDAQ:CORZ) Acquired by Northern Right Capital Management L.P.

Northern Right Capital Management L.P. bought a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 528,074 shares of the company's stock, valued at approximately $7,419,000. Core Scientific comprises approximately 2.7% of Northern Right Capital Management L.P.'s holdings, making the stock its 15th biggest holding. Northern Right Capital Management L.P. owned 0.19% of Core Scientific as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total value of $1,443,187.50. Following the completion of the sale, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. This trade represents a 40.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jordan Levy purchased 62,500 shares of the business's stock in a transaction on 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 completion of the acquisition, the director now directly owns 306,887 shares of the company's stock, valued at approximately $2,458,164.87. The trade was a 25.57 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Core Scientific Stock Performance

NASDAQ CORZ traded up $0.05 on Tuesday, reaching $8.29. 7,249,669 shares of the stock traded hands, compared to its average volume of 12,698,960. The company has a fifty day moving average price of $8.22 and a 200-day moving average price of $12.34. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -1.53 and a beta of 6.80. Core Scientific, Inc. has a 12 month low of $2.88 and a 12 month high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. As a group, research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, March 11th. Compass Point cut their price target on Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Craig Hallum assumed coverage on shares of Core Scientific in a report on Tuesday, January 21st. They issued a "buy" rating and a $24.00 target price on the stock. Needham & Company LLC cut their price target on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research report on Wednesday, March 12th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target 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.