Alyeska Investment Group L.P. Has $6.19 Million Position in Core Scientific, Inc. (NASDAQ:CORZ)

Alyeska Investment Group L.P. lowered its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 55.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 440,856 shares of the company's stock after selling 538,069 shares during the quarter. Alyeska Investment Group L.P. owned about 0.16% of Core Scientific worth $6,194,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of Core Scientific by 48.0% during the third quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company's stock worth $5,192,000 after buying an additional 142,068 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Core Scientific by 25.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company's stock worth $1,378,000 after acquiring an additional 20,000 shares in the last quarter. ORG Wealth Partners LLC increased its position 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 worth $126,262,000 after purchasing an additional 26,649 shares during the last quarter. FNY Investment Advisers LLC raised its stake in shares of Core Scientific by 35.8% in the 4th quarter. FNY Investment Advisers LLC now owns 190,747 shares of the company's stock valued at $2,679,000 after purchasing an additional 50,275 shares in the last quarter. Finally, Shikiar Asset Management Inc. lifted its position in shares of Core Scientific by 27.0% during the fourth quarter. Shikiar Asset Management Inc. now owns 95,250 shares of the company's stock worth $1,338,000 after purchasing an additional 20,250 shares during the last quarter.

Core Scientific Stock Down 1.4 %

Core Scientific stock traded down $0.13 during trading hours on Friday, hitting $9.32. 7,891,097 shares of the company traded hands, compared to its average volume of 12,986,268. Core Scientific, Inc. has a 1-year low of $3.46 and a 1-year high of $18.63. The firm has a market cap of $2.75 billion, a P/E ratio of -1.72 and a beta of 6.66. The firm's 50-day simple moving average is $7.92 and its two-hundred day simple moving average is $12.09.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CORZ. Cantor Fitzgerald cut their price objective on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Craig Hallum began coverage on Core Scientific in a research note on Tuesday, January 21st. They set a "buy" rating and a $24.00 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $17.00 target price on shares of Core Scientific in a report 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 for the company in a report on Tuesday, February 25th. Finally, Needham & Company LLC dropped their price objective 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. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $19.07.

Insider Buying and Selling

In related news, Director Jordan Levy bought 62,500 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $8.01 per share, with a total value of $500,625.00. Following the completion of the transaction, the director now directly owns 306,887 shares of the company's stock, valued at approximately $2,458,164.87. This trade represents a 25.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Todd A. Becker sold 134,250 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total value of $1,443,187.50. Following the sale, the director now directly owns 195,687 shares of the company's stock, valued at approximately $2,103,635.25. This represents a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

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.