Core Scientific, Inc. (NASDAQ:CORZ) Position Increased by MYDA Advisors LLC

MYDA Advisors LLC raised its position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 5.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,362,501 shares of the company's stock after acquiring an additional 72,501 shares during the period. Core Scientific makes up 4.8% of MYDA Advisors LLC's investment portfolio, making the stock its largest holding. MYDA Advisors LLC owned 0.49% of Core Scientific worth $19,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Shields & Co. LLC purchased a new stake in Core Scientific in the 4th quarter valued at approximately $26,000. First Horizon Advisors Inc. acquired a new stake in shares of Core Scientific in the 4th quarter valued at approximately $34,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Core Scientific in the fourth quarter valued at approximately $42,000. Vestcor Inc acquired a new position in Core Scientific during the fourth quarter worth $66,000. Finally, US Bancorp DE purchased a new position in Core Scientific in the fourth quarter worth $99,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Craig Hallum started coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target on the stock. HC Wainwright restated a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Canaccord Genuity Group reiterated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Wednesday, March 12th. Compass Point decreased their price target on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald dropped their price objective on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Fifteen investment 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.com, the company has a consensus rating of "Buy" and a consensus price target of $19.07.

Insider Buying and Selling at Core Scientific

In related news, Director Jordan Levy acquired 62,500 shares of the business's stock in a transaction 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 completion of 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Todd A. Becker sold 134,250 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was 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 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 disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Core Scientific Trading Up 9.4 %

CORZ traded up $0.71 during midday trading on Friday, hitting $8.24. The company's stock had a trading volume of 9,819,359 shares, compared to its average volume of 12,590,795. Core Scientific, Inc. has a 52-week low of $2.88 and a 52-week high of $18.63. The firm has a 50-day moving average price of $8.37 and a two-hundred day moving average price of $12.40. The firm has a market cap of $2.43 billion, a P/E ratio of -1.52 and a beta of 6.80.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. On average, equities analysts expect that Core Scientific, Inc. will post 0.52 EPS 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.