Core Scientific, Inc. (NASDAQ:CORZ) Shares Bought by Two Seas Capital LP

Two Seas Capital LP boosted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 9.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,232,888 shares of the company's stock after purchasing an additional 527,097 shares during the period. Core Scientific comprises approximately 6.9% of Two Seas Capital LP's holdings, making the stock its 4th largest position. Two Seas Capital LP owned approximately 2.23% of Core Scientific worth $87,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CORZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Core Scientific by 76.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 394,999 shares of the company's stock worth $5,550,000 after acquiring an additional 171,461 shares in the last quarter. Voloridge Investment Management LLC grew its position in Core Scientific by 4.5% in the fourth quarter. Voloridge Investment Management LLC now owns 4,048,932 shares of the company's stock worth $56,887,000 after acquiring an additional 175,587 shares in the last quarter. Vennlight Capital Management LP bought a new stake in Core Scientific in the fourth quarter worth approximately $6,073,000. Vident Advisory LLC grew its position in Core Scientific by 33.2% in the fourth quarter. Vident Advisory LLC now owns 2,192,225 shares of the company's stock worth $30,801,000 after acquiring an additional 546,270 shares in the last quarter. Finally, Soviero Asset Management LP grew its position in Core Scientific by 7.7% in the fourth quarter. Soviero Asset Management LP now owns 280,000 shares of the company's stock worth $3,934,000 after acquiring an additional 20,000 shares in the last quarter.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Core Scientific

In related news, Director Todd A. Becker sold 134,250 shares of the firm'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 completion of the sale, the director now owns 195,687 shares of the company's stock, valued at $2,103,635.25. This trade represents a 40.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jordan Levy acquired 62,500 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $8.01 per share, with a total value of $500,625.00. Following the transaction, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. The trade was a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company's stock.

Core Scientific Price Performance

Shares of CORZ traded down $0.44 during trading hours on Wednesday, hitting $7.85. The stock had a trading volume of 4,402,790 shares, compared to its average volume of 12,667,006. The company's fifty day moving average is $8.15 and its two-hundred day moving average is $12.31. Core Scientific, Inc. has a 52 week low of $2.88 and a 52 week high of $18.63. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -1.45 and a beta of 6.80.

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