Canada Pension Plan Investment Board Buys New Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Canada Pension Plan Investment Board acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 662,000 shares of the company's stock, valued at approximately $9,301,000. Canada Pension Plan Investment Board owned 0.24% of Core Scientific as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Marshall Wace LLP lifted its holdings in Core Scientific by 233.4% during the fourth quarter. Marshall Wace LLP now owns 1,489,261 shares of the company's stock valued at $20,924,000 after purchasing an additional 1,042,587 shares in the last quarter. EAM Global Investors LLC acquired a new stake in Core Scientific in the 4th quarter worth about $3,244,000. EAM Investors LLC purchased a new stake in Core Scientific during the 4th quarter worth approximately $3,971,000. Guggenheim Capital LLC acquired a new position in shares of Core Scientific during the fourth quarter valued at approximately $234,000. Finally, Chiron Investment Management LLC purchased a new position in shares of Core Scientific in the fourth quarter valued at approximately $1,070,000.

Core Scientific Price Performance

Shares of NASDAQ:CORZ traded up $0.78 during midday trading on Friday, reaching $8.31. 13,719,523 shares of the company's stock were exchanged, compared to its average volume of 12,688,100. The firm's 50 day simple moving average is $8.29 and its two-hundred day simple moving average is $12.38. Core Scientific, Inc. has a fifty-two week low of $2.88 and a fifty-two week high of $18.63. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -1.54 and a beta of 6.80.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to analysts' expectations of $97.07 million. Equities research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at Core Scientific

In other news, Director Jordan Levy bought 62,500 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the acquisition, the director now directly owns 306,887 shares of the company's stock, valued at $2,458,164.87. The trade was a 25.57 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Todd A. Becker sold 134,250 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the sale, the director now owns 195,687 shares in the company, valued at $2,103,635.25. This trade represents a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on CORZ shares. HC Wainwright reissued a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Compass Point decreased their price target on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research note on Wednesday, March 12th. Needham & Company LLC decreased their target price on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Keefe, Bruyette & Woods began coverage on Core Scientific in a research report on Monday, January 27th. They issued an "outperform" rating and a $22.00 price target for the company. Fifteen 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 stock has a consensus rating of "Buy" and an average target price of $19.07.

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.