Driehaus Capital Management LLC Has $144.21 Million Stock Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Driehaus Capital Management LLC lifted its position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 112.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,264,204 shares of the company's stock after purchasing an additional 5,424,901 shares during the quarter. Core Scientific accounts for approximately 1.2% of Driehaus Capital Management LLC's holdings, making the stock its 10th biggest holding. Driehaus Capital Management LLC owned approximately 3.68% of Core Scientific worth $144,212,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CORZ. FMR LLC raised its stake in shares of Core Scientific by 2,937.7% in the fourth quarter. FMR LLC now owns 7,436,229 shares of the company's stock valued at $104,479,000 after acquiring an additional 7,191,428 shares during the last quarter. Vanguard Group Inc. raised its position in Core Scientific by 54.3% in 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 during the last quarter. Helix Partners Management LP acquired a new position in Core Scientific in the fourth quarter worth $86,498,000. Beryl Capital Management LLC grew its holdings in shares of Core Scientific by 24.3% during the fourth quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company's stock worth $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 fourth quarter valued at $39,240,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CORZ shares. Compass Point lowered their price objective on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Needham & Company LLC dropped 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 report on Thursday, February 27th. Craig Hallum initiated coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 target price for the company. Cantor Fitzgerald decreased their price target on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Finally, Keefe, Bruyette & Woods assumed coverage on Core Scientific in a report on Monday, January 27th. They set an "outperform" rating and a $22.00 price objective for the company. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $19.07.

Insider Activity

In related news, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction 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 directly owns 195,687 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Jordan Levy acquired 62,500 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $8.01 per share, for a total transaction 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 trade represents a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

Core Scientific Price Performance

Shares of NASDAQ CORZ traded down $0.13 during midday trading on Friday, reaching $9.32. 7,891,097 shares of the stock were exchanged, compared to its average volume of 13,005,471. Core Scientific, Inc. has a 12 month low of $3.46 and a 12 month high of $18.63. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -1.72 and a beta of 6.66. The business has a 50-day simple moving average of $7.92 and a two-hundred day simple moving average of $12.08.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $92.04 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business's revenue was down 55.6% on a year-over-year basis. Equities research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal 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.