Core Scientific, Inc. (NASDAQ:CORZ) is Parsifal Capital Management LP's 8th Largest Position

Parsifal Capital Management LP raised its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,615,199 shares of the company's stock after purchasing an additional 202,374 shares during the quarter. Core Scientific makes up about 6.6% of Parsifal Capital Management LP's holdings, making the stock its 8th biggest holding. Parsifal Capital Management LP owned about 2.01% of Core Scientific worth $78,894,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Core Scientific

In other Core Scientific 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 transaction of $1,443,187.50. Following the sale, the director now owns 195,687 shares in the company, valued at approximately $2,103,635.25. This trade represents a 40.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jordan Levy bought 62,500 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the purchase, the director now owns 306,887 shares in the company, valued at $2,458,164.87. This trade represents 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.

Wall Street Analyst Weigh In

Several analysts recently commented on CORZ shares. Needham & Company LLC reissued a "buy" rating and set a $16.00 price objective on shares of Core Scientific in a research report on Friday. Compass Point cut their price objective on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Cantor Fitzgerald cut their price objective on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Keefe, Bruyette & Woods started coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an "outperform" rating and a $22.00 price objective on the stock. Finally, Oppenheimer started coverage on shares of Core Scientific in a research report on Wednesday, May 14th. They set an "outperform" rating and a $15.00 price objective on the stock. Sixteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $18.75.

Core Scientific Price Performance

Shares of NASDAQ:CORZ traded down $0.02 during trading on Monday, hitting $10.76. The company's stock had a trading volume of 4,793,030 shares, compared to its average volume of 13,171,353. The company has a 50-day moving average of $8.12 and a 200-day moving average of $11.95. Core Scientific, Inc. has a 12 month low of $3.68 and a 12 month high of $18.63. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -1.99 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $79.53 million during the quarter, compared to the consensus estimate of $92.04 million. During the same quarter last year, the company earned $0.78 EPS. Core Scientific's revenue for the quarter was down 55.6% on a year-over-year basis. As a group, research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

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.