Core Scientific, Inc. (NASDAQ:CORZ) Stock Holdings Lifted by Picton Mahoney Asset Management

Picton Mahoney Asset Management grew its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 105.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,437 shares of the company's stock after purchasing an additional 142,437 shares during the quarter. Picton Mahoney Asset Management owned approximately 0.10% of Core Scientific worth $3,899,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Wellington Shields & Co. LLC acquired a new stake in shares of Core Scientific in the fourth quarter valued at approximately $26,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Core Scientific in the fourth quarter valued at approximately $333,000. Mercuria Capital Strategies LLC acquired a new stake in shares of Core Scientific in the fourth quarter valued at approximately $2,459,000. Vestcor Inc acquired a new stake in shares of Core Scientific in the fourth quarter valued at approximately $66,000. Finally, Swiss National Bank grew its position in shares of Core Scientific by 46.3% in the fourth quarter. Swiss National Bank now owns 380,900 shares of the company's stock valued at $5,352,000 after purchasing an additional 120,500 shares during the last quarter.

Insiders Place Their Bets

In related news, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the completion of the sale, the chief executive officer now owns 4,128,505 shares in the company, valued at approximately $58,789,911.20. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 748,282 shares of company stock valued at $10,978,104 in the last ninety days. Corporate insiders own 32.00% of the company's stock.

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Analyst Ratings Changes

A number of brokerages recently issued reports on CORZ. Keefe, Bruyette & Woods began coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an "outperform" rating and a $22.00 target price on the stock. BTIG Research raised their target price on shares of Core Scientific from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Needham & Company LLC decreased their target price on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. HC Wainwright restated a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Finally, Compass Point cut 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 note on Tuesday, February 25th. Fifteen 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.com, the company currently has an average rating of "Buy" and an average price target of $19.07.

Core Scientific Stock Down 1.0 %

Shares of CORZ stock traded down $0.09 during mid-day trading on Thursday, reaching $8.59. The company's stock had a trading volume of 17,073,584 shares, compared to its average volume of 10,955,918. The company's 50 day simple moving average is $11.72 and its 200-day simple moving average is $13.18. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63. The firm has a market capitalization of $2.53 billion, a PE ratio of -1.59 and a beta of 6.83.

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