100,000 Shares in Core Scientific, Inc. (NASDAQ:CORZ) Purchased by SRN Advisors LLC

SRN Advisors LLC bought a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 100,000 shares of the company’s stock, valued at approximately $1,405,000. Core Scientific makes up about 1.2% of SRN Advisors LLC’s portfolio, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CORZ. ORG Wealth Partners LLC increased its stake in shares of Core Scientific by 0.3% during the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock worth $126,262,000 after purchasing an additional 26,649 shares in the last quarter. Parsifal Capital Management LP increased its position in Core Scientific by 3.9% during the third quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock worth $64,196,000 after buying an additional 204,314 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Core Scientific by 26.7% in the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after acquiring an additional 1,113,285 shares during the last quarter. State Street Corp lifted its position in shares of Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after acquiring an additional 583,493 shares in the last quarter. Finally, Taconic Capital Advisors LP lifted its position in shares of Core Scientific by 178.7% in the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after acquiring an additional 1,742,462 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the transaction, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Todd M. Duchene sold 25,277 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the transaction, the insider now owns 2,023,423 shares of the company’s stock, valued at approximately $32,860,389.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 614,032 shares of company stock valued at $9,534,916. Company insiders own 32.00% of the company’s stock.

Core Scientific Price Performance

NASDAQ CORZ opened at $10.02 on Thursday. Core Scientific, Inc. has a 1-year low of $2.61 and a 1-year high of $18.63. The firm has a market capitalization of $2.80 billion and a P/E ratio of -1.85. The business’s 50-day simple moving average is $13.43 and its 200-day simple moving average is $13.30.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. On average, equities research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CORZ shares. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Compass Point decreased their target price on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday. HC Wainwright boosted their price target on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Craig Hallum started coverage on Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective on the stock. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Core Scientific has a consensus rating of “Buy” and an average price target of $19.07.

About Core Scientific

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.