Core Scientific, Inc. (NASDAQ:CORZ) Holdings Trimmed by Pennant Investors LP

Pennant Investors LP lowered its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 630,000 shares of the company's stock after selling 164,813 shares during the quarter. Core Scientific comprises 2.5% of Pennant Investors LP's portfolio, making the stock its 12th largest position. Pennant Investors LP owned about 0.23% of Core Scientific worth $8,852,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Core Scientific by 54.3% in the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock valued at $272,270,000 after acquiring an additional 6,819,406 shares in the last quarter. ORG Wealth Partners LLC boosted its stake in shares of Core Scientific by 0.3% in the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company's stock valued at $126,262,000 after purchasing an additional 26,649 shares during the period. FMR LLC grew its holdings in Core Scientific by 2,937.7% during the 4th quarter. FMR LLC now owns 7,436,229 shares of the company's stock valued at $104,479,000 after purchasing an additional 7,191,428 shares in the last quarter. Helix Partners Management LP purchased a new stake in Core Scientific during the 4th quarter worth $86,498,000. Finally, Geode Capital Management LLC lifted its holdings in Core Scientific by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 5,532,715 shares of the company's stock worth $77,756,000 after buying an additional 256,142 shares in the last quarter.

Insider Activity at Core Scientific

In other Core Scientific news, Director Jordan Levy bought 62,500 shares of the business's stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $8.01 per share, with a total value of $500,625.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Todd A. Becker sold 134,250 shares of the 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 directly owns 195,687 shares of the company's stock, valued at approximately $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 insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Wednesday, March 12th. Needham & Company LLC dropped their price objective on Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Compass Point reduced their target price 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. HC Wainwright restated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, Craig Hallum assumed coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They set a "buy" rating and a $24.00 price objective on the stock. Fifteen 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 presently has an average rating of "Buy" and a consensus target price of $19.07.

Core Scientific Stock Up 10.4 %

CORZ stock traded up $0.78 during midday trading on Friday, reaching $8.31. The company had a trading volume of 13,719,523 shares, compared to its average volume of 12,642,406. The firm has a market capitalization of $2.45 billion, a PE ratio of -1.54 and a beta of 6.80. The stock has a 50 day moving average price of $8.37 and a 200 day moving average price of $12.40. Core Scientific, Inc. has a fifty-two week low of $2.88 and a fifty-two week high of $18.63.

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 analyst estimates of $97.07 million. Research analysts predict 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.