Two Seas Capital LP Buys 527,097 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Two Seas Capital LP lifted its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,232,888 shares of the company's stock after acquiring an additional 527,097 shares during the quarter. Core Scientific accounts for 7.6% of Two Seas Capital LP's investment portfolio, making the stock its 5th largest position. Two Seas Capital LP owned 2.23% of Core Scientific worth $87,572,000 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. Xponance Inc. raised its holdings in Core Scientific by 7.9% in the fourth quarter. Xponance Inc. now owns 12,800 shares of the company's stock valued at $180,000 after acquiring an additional 937 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Core Scientific by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company's stock valued at $262,000 after buying an additional 1,185 shares during the last quarter. Wellington Shields & Co. LLC acquired a new position in shares of Core Scientific in the 4th quarter valued at $26,000. First Horizon Advisors Inc. purchased a new stake in shares of Core Scientific in the fourth quarter valued at about $34,000. Finally, Joel Isaacson & Co. LLC increased its holdings in shares of Core Scientific by 4.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company's stock valued at $815,000 after purchasing an additional 2,500 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CORZ. Keefe, Bruyette & Woods started coverage on Core Scientific in a report on Monday, January 27th. They issued an "outperform" rating and a $22.00 price target on the stock. Cantor Fitzgerald reduced their price target on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Compass Point lowered their price objective on Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Canaccord Genuity Group reiterated a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a report on Wednesday, March 12th. Finally, HC Wainwright restated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research note on Tuesday, March 11th. Fifteen equities research 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 a consensus price target of $19.07.

Core Scientific Price Performance

CORZ stock traded down $0.07 on Monday, reaching $8.24. The company's stock had a trading volume of 10,085,466 shares, compared to its average volume of 12,677,694. Core Scientific, Inc. has a 52 week low of $2.88 and a 52 week high of $18.63. The company has a market capitalization of $2.43 billion, a P/E ratio of -1.52 and a beta of 6.80. The firm has a fifty day moving average of $8.29 and a two-hundred day moving average of $12.38.

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

Insiders Place Their Bets

In other Core Scientific news, Director Jordan Levy purchased 62,500 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $8.01 per share, with a total value of $500,625.00. Following the completion of the transaction, the director now owns 306,887 shares of the company's stock, valued at approximately $2,458,164.87. This represents a 25.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Todd A. Becker sold 134,250 shares of the business'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 transaction of $1,443,187.50. Following the transaction, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. The trade was a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

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.