Clearline Capital LP Makes New $29.45 Million Investment in Core Scientific, Inc. (NASDAQ:CORZ)

Clearline Capital LP purchased a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,095,863 shares of the company's stock, valued at approximately $29,447,000. Core Scientific makes up about 3.9% of Clearline Capital LP's holdings, making the stock its 5th biggest position. Clearline Capital LP owned approximately 0.75% of Core Scientific at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CORZ. FMR LLC grew its position in Core Scientific by 2,937.7% during the fourth quarter. FMR LLC now owns 7,436,229 shares of the company's stock valued at $104,479,000 after acquiring an additional 7,191,428 shares during the last quarter. Vanguard Group Inc. grew its position in Core Scientific by 54.3% during the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock valued at $272,270,000 after acquiring an additional 6,819,406 shares during the last quarter. Helix Partners Management LP bought a new position in Core Scientific during the fourth quarter valued at approximately $86,498,000. Driehaus Capital Management LLC grew its position in Core Scientific by 112.1% during the fourth quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company's stock valued at $144,212,000 after acquiring an additional 5,424,901 shares during the last quarter. Finally, Beryl Capital Management LLC grew its holdings in shares of Core Scientific by 24.3% in the fourth quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company's stock worth $255,423,000 after purchasing an additional 3,548,396 shares during the last quarter.

Analysts Set New Price Targets

Several analysts recently weighed in on CORZ shares. HC Wainwright reiterated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, March 11th. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a report on Friday. Cantor Fitzgerald cut their price target on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. 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 objective for the company. Finally, Needham & Company LLC lowered their price objective on 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Core Scientific currently has a consensus rating of "Buy" and a consensus target price of $19.07.

Core Scientific Trading Up 1.9%

NASDAQ CORZ traded up $0.19 on Tuesday, hitting $10.07. 4,871,143 shares of the company's stock traded hands, compared to its average volume of 12,977,009. Core Scientific, Inc. has a 1-year low of $3.46 and a 1-year high of $18.63. The firm's 50-day moving average price is $7.93 and its two-hundred day moving average price is $12.04. The firm has a market capitalization of $2.97 billion, a PE ratio of -1.86 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. The business's revenue was down 55.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Core Scientific news, 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 completion of the transaction, the director now owns 195,687 shares in the company, valued at $2,103,635.25. The trade was a 40.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jordan Levy acquired 62,500 shares of Core Scientific stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $8.01 per share, with a total value of $500,625.00. Following the transaction, the director now directly owns 306,887 shares in the company, valued at approximately $2,458,164.87. The trade was a 25.57% increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

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.