Core Scientific, Inc. (NASDAQ:CORZ) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP decreased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 26.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 550,000 shares of the company's stock after selling 201,250 shares during the quarter. Brevan Howard Capital Management LP owned 0.20% of Core Scientific worth $7,728,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wellington Shields & Co. LLC purchased a new stake in shares of Core Scientific in the 4th quarter valued at $26,000. First Horizon Advisors Inc. acquired a new stake in Core Scientific during the 4th quarter worth about $34,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Core Scientific during the 4th quarter valued at about $42,000. Vestcor Inc acquired a new position in shares of Core Scientific in the 4th quarter valued at about $66,000. Finally, US Bancorp DE purchased a new stake in shares of Core Scientific in the fourth quarter worth about $99,000.

Core Scientific Stock Down 1.0 %

Shares of Core Scientific stock traded down $0.09 during trading hours on Wednesday, reaching $8.90. 12,092,690 shares of the company's stock were exchanged, compared to its average volume of 12,927,314. The business has a fifty day moving average of $7.94 and a two-hundred day moving average of $12.14. The company has a market capitalization of $2.62 billion, a P/E ratio of -1.65 and a beta of 6.66. Core Scientific, Inc. has a 1 year low of $3.29 and a 1 year high of $18.63.

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

Insider Buying and Selling

In other news, Director Jordan Levy bought 62,500 shares of the business's stock in a transaction on 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 completion of the transaction, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. This trade represents a 25.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of the 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 directly owns 195,687 shares in the company, valued at $2,103,635.25. This represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CORZ shares. Craig Hallum assumed coverage on Core Scientific in a research report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target for the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. Needham & Company LLC dropped their price target on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a research report on Monday, January 27th. They issued an "outperform" rating and a $22.00 price objective for the company. Finally, Cantor Fitzgerald dropped their target price on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $19.07.

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.