Chiron Investment Management LLC Invests $1.07 Million in Core Scientific, Inc. (NASDAQ:CORZ)

Chiron Investment Management LLC bought a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 76,140 shares of the company's stock, valued at approximately $1,070,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Core Scientific by 54.3% during the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock valued at $272,270,000 after purchasing an additional 6,819,406 shares in the last quarter. ORG Wealth Partners LLC raised 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 acquiring an additional 26,649 shares in the last quarter. FMR LLC lifted its stake in shares of Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company's stock valued at $104,479,000 after purchasing an additional 7,191,428 shares during the period. Helix Partners Management LP bought a new stake in shares of Core Scientific during the fourth quarter valued at approximately $86,498,000. Finally, Geode Capital Management LLC grew its stake in Core Scientific by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 5,532,715 shares of the company's stock worth $77,756,000 after purchasing an additional 256,142 shares during the period.

Insider Transactions at Core Scientific

In other news, Director Jordan Levy acquired 62,500 shares of Core Scientific stock in a transaction that occurred on 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 transaction, the director now directly owns 306,887 shares of the company's stock, valued at $2,458,164.87. This trade represents a 25.57 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Todd A. Becker sold 134,250 shares of the company'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 value of $1,443,187.50. Following the transaction, the director now directly owns 195,687 shares in the company, valued at approximately $2,103,635.25. This represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 530,041 shares of company stock worth $7,870,352. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CORZ has been the topic of several research reports. Canaccord Genuity Group reissued 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 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 report on Thursday, February 27th. Craig Hallum assumed coverage on Core Scientific in a report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target on the stock. Keefe, Bruyette & Woods initiated coverage on Core Scientific in a report on Monday, January 27th. They issued an "outperform" rating and a $22.00 price objective for the company. Finally, Compass Point reduced 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. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $19.07.

Core Scientific Stock Performance

NASDAQ:CORZ traded up $0.04 during trading hours on Friday, reaching $6.63. The stock had a trading volume of 9,748,300 shares, compared to its average volume of 12,485,531. Core Scientific, Inc. has a 52 week low of $2.86 and a 52 week high of $18.63. The company has a 50 day moving average price of $8.81 and a two-hundred day moving average price of $12.54. The stock has a market capitalization of $1.96 billion, a PE ratio of -1.23 and a beta of 6.80.

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

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.