ACR Alpine Capital Research LLC Cuts Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

ACR Alpine Capital Research LLC reduced its position in Core Scientific, Inc. (NASDAQ:CORZ) by 30.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,000 shares of the company’s stock after selling 53,100 shares during the quarter. ACR Alpine Capital Research LLC’s holdings in Core Scientific were worth $1,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CORZ. ORG Wealth Partners LLC lifted its stake in shares of Core Scientific by 0.3% in the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock valued at $126,262,000 after acquiring an additional 26,649 shares during the last quarter. Parsifal Capital Management LP lifted its stake in shares of Core Scientific by 3.9% in the 3rd quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock valued at $64,196,000 after acquiring an additional 204,314 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after acquiring an additional 1,113,285 shares during the last quarter. State Street Corp lifted its stake in shares of Core Scientific by 17.0% in the 3rd 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 during the last quarter. Finally, Taconic Capital Advisors LP lifted its stake in shares of Core Scientific by 178.7% in the 3rd 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 during the last quarter.

Core Scientific Stock Up 4.2 %

Core Scientific stock opened at $11.16 on Monday. The stock’s 50 day moving average is $13.20 and its 200 day moving average is $13.34. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The company has a market capitalization of $3.12 billion and a P/E ratio of -2.06.

Core Scientific (NASDAQ:CORZ) last issued 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 business had revenue of $94.93 million for the quarter, compared to analysts’ expectations of $97.07 million. As a group, equities analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on CORZ shares. Keefe, Bruyette & Woods started coverage on Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 price target for the company. Roth Capital raised Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Thursday. Cantor Fitzgerald decreased their target price on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Compass Point decreased their target price 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. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $19.07.

Insider Buying and Selling at Core Scientific

In related news, CEO Adam Taylor Sullivan sold 88,380 shares of the firm’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 $1,258,531.20. 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. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd M. Duchene sold 129,861 shares of the firm’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 completion of the transaction, the insider now directly owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. This represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 614,032 shares of company stock worth $9,534,916. Insiders own 32.00% of the company’s stock.

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.