Corbin Capital Partners L.P. Sells 625,318 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Corbin Capital Partners L.P. reduced its position in Core Scientific, Inc. (NASDAQ:CORZ) by 60.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 402,013 shares of the company’s stock after selling 625,318 shares during the quarter. Core Scientific makes up about 9.3% of Corbin Capital Partners L.P.’s portfolio, making the stock its 4th largest position. Corbin Capital Partners L.P. owned 0.14% of Core Scientific worth $5,648,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rush Island Management LP bought a new stake in Core Scientific during the third quarter valued at $32,221,000. Taconic Capital Advisors LP boosted its position in shares of Core Scientific by 178.7% during the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after purchasing an additional 1,742,462 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in Core Scientific during the third quarter worth approximately $18,383,000. Geode Capital Management LLC grew its stake in Core Scientific by 26.7% during the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after purchasing an additional 1,113,285 shares during the period. Finally, Whitefort Capital Management LP increased its holdings in Core Scientific by 337.1% in the third quarter. Whitefort Capital Management LP now owns 1,147,500 shares of the company’s stock worth $13,609,000 after purchasing an additional 885,000 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CORZ shares. Needham & Company LLC reduced their price objective 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. Compass Point reduced their price target on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a 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. Craig Hallum assumed coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price for the company. Finally, Keefe, Bruyette & Woods started coverage on Core Scientific in a research report on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price for the company. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific Trading Down 1.0 %

NASDAQ CORZ opened at $8.59 on Friday. The business has a fifty day simple moving average of $11.61 and a 200 day simple moving average of $13.15. 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 P/E ratio of -1.59 and a beta of 6.83.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The firm had revenue of $94.93 million during the quarter, compared to analysts’ expectations of $97.07 million. As a group, sell-side analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,849,220.64. Following the transaction, the insider now owns 2,051,649 shares of the company’s stock, valued at approximately $29,215,481.76. The trade was a 5.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 3,758,793 shares of the company’s stock, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 748,282 shares of company stock valued at $10,978,104 in the last 90 days. 32.00% of the stock is currently owned by corporate insiders.

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.