Core Scientific, Inc. (NASDAQ:CORZ) Shares Sold by Blackstone Inc.

Blackstone Inc. decreased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 65.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,000 shares of the company's stock after selling 650,000 shares during the period. Blackstone Inc. owned about 0.13% of Core Scientific worth $4,918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC grew its stake in Core Scientific by 2,937.7% during the 4th quarter. FMR LLC now owns 7,436,229 shares of the company's stock worth $104,479,000 after purchasing an additional 7,191,428 shares in the last quarter. Vanguard Group Inc. lifted its stake in Core Scientific by 54.3% in the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock worth $272,270,000 after acquiring an additional 6,819,406 shares during the last quarter. Helix Partners Management LP acquired a new position in Core Scientific during the 4th quarter worth approximately $86,498,000. Beryl Capital Management LLC increased its position in shares of Core Scientific by 24.3% in the 4th quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company's stock valued at $255,423,000 after purchasing an additional 3,548,396 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. acquired a new stake in shares of Core Scientific in the 4th quarter valued at $39,240,000.

Insider Transactions at Core Scientific

In related 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 owns 195,687 shares of the company's stock, valued at approximately $2,103,635.25. The trade was a 40.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jordan Levy bought 62,500 shares of the company's stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $8.01 per share, with a total value of $500,625.00. Following the completion of the acquisition, the director now owns 306,887 shares of the company's stock, valued at $2,458,164.87. This 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 research firms recently commented on CORZ. Canaccord Genuity Group reissued a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. HC Wainwright reissued a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Needham & Company LLC reduced their price target on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Craig Hallum started coverage on Core Scientific in a report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price objective on the stock. Finally, Cantor Fitzgerald cut their target price on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $19.07.

Core Scientific Stock Performance

Shares of CORZ opened at $8.75 on Tuesday. The stock has a market capitalization of $2.58 billion, a P/E ratio of -1.62 and a beta of 6.66. Core Scientific, Inc. has a 1 year low of $3.29 and a 1 year high of $18.63. The company's fifty day moving average is $8.02 and its two-hundred day moving average is $12.18.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly 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 analyst estimates of $97.07 million. Sell-side analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

Core Scientific 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.

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