Trexquant Investment LP bought a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 394,227 shares of the company's stock, valued at approximately $5,539,000. Trexquant Investment LP owned approximately 0.14% of Core Scientific as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CORZ. Wellington Shields & Co. LLC bought a new stake in Core Scientific during the 4th quarter valued at $26,000. First Horizon Advisors Inc. bought a new stake in shares of Core Scientific during the fourth quarter valued at about $34,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Core Scientific in the fourth quarter worth about $42,000. Vestcor Inc bought a new position in shares of Core Scientific in the fourth quarter valued at approximately $66,000. Finally, US Bancorp DE purchased a new position in Core Scientific during the fourth quarter valued at approximately $99,000.
Insider Buying and Selling at Core Scientific
In related news, CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $6,004,122.88. Following the completion of 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 represents a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jordan Levy acquired 62,500 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $8.01 per share, with a total value 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 $2,458,164.87. This trade represents a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 530,041 shares of company stock valued at $7,870,352. 32.00% of the stock is currently owned by company insiders.
Core Scientific Stock Down 10.2 %
Shares of Core Scientific stock traded down $0.77 during trading on Thursday, reaching $6.75. 5,498,098 shares of the stock were exchanged, compared to its average volume of 12,235,397. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -1.24 and a beta of 6.80. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The stock's fifty day moving average is $9.60 and its 200 day moving average is $12.81.
Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. Equities analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Cantor Fitzgerald cut their price target on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Compass Point decreased their target price on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Craig Hallum started coverage on Core Scientific in a research report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target for the company. HC Wainwright restated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, March 11th. Finally, Needham & Company LLC dropped their target price on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $19.07.
Read Our Latest Stock Report on CORZ
About Core Scientific
(
Free Report)
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.
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