Candelo Capital Management LP Makes New $5.76 Million Investment in Core Scientific, Inc. (NASDAQ:CORZ)

Candelo Capital Management LP purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 409,804 shares of the company's stock, valued at approximately $5,758,000. Core Scientific makes up 2.9% of Candelo Capital Management LP's holdings, making the stock its 11th biggest holding. Candelo Capital Management LP owned about 0.15% of Core Scientific as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Xponance Inc. increased its position in shares of Core Scientific by 7.9% during the fourth quarter. Xponance Inc. now owns 12,800 shares of the company's stock valued at $180,000 after purchasing an additional 937 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of Core Scientific by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company's stock worth $262,000 after purchasing an additional 1,185 shares during the last quarter. Wellington Shields & Co. LLC acquired a new stake in shares of Core Scientific in the fourth quarter valued at $26,000. First Horizon Advisors Inc. acquired a new position in Core Scientific during the 4th quarter worth about $34,000. Finally, Joel Isaacson & Co. LLC grew its holdings in Core Scientific by 4.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company's stock worth $815,000 after acquiring an additional 2,500 shares during the last quarter.

Core Scientific Trading Down 3.5 %

Shares of NASDAQ CORZ traded down $0.29 during mid-day trading on Monday, reaching $8.02. 6,582,361 shares of the company's stock were exchanged, compared to its average volume of 12,665,521. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -1.47 and a beta of 6.80. Core Scientific, Inc. has a twelve month low of $2.88 and a twelve month high of $18.63. The business has a fifty day simple moving average of $8.29 and a 200 day simple moving average of $12.38.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million for the quarter, compared to the consensus estimate 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 Core Scientific news, Director Todd A. Becker sold 134,250 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 195,687 shares of the company's stock, valued at $2,103,635.25. The trade was a 40.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the director now 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 disclosure for this purchase can be found here. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a research note on Wednesday, March 12th. Craig Hallum assumed coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research note on Tuesday, March 11th. Compass Point lowered their price objective 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. Finally, Needham & Company LLC cut 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 report on Thursday, February 27th. Fifteen research 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, Core Scientific has an average rating of "Buy" and a consensus target price 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.