Soros Capital Management LLC Has $16.28 Million Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Soros Capital Management LLC increased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 34.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,158,449 shares of the company's stock after acquiring an additional 296,300 shares during the quarter. Core Scientific accounts for about 2.6% of Soros Capital Management LLC's holdings, making the stock its 13th largest position. Soros Capital Management LLC owned approximately 0.41% of Core Scientific worth $16,276,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CORZ. Wellington Shields & Co. LLC acquired a new position in Core Scientific in the 4th quarter worth about $26,000. First Horizon Advisors Inc. bought a new position in Core Scientific in the 4th quarter worth approximately $34,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Core Scientific in the fourth quarter worth $42,000. Vestcor Inc bought a new position in Core Scientific during the fourth quarter worth $66,000. Finally, US Bancorp DE acquired a new position in shares of Core Scientific during the fourth quarter valued at about $99,000.

Core Scientific Stock Performance

NASDAQ CORZ traded up $0.78 during trading hours on Friday, hitting $8.31. 13,719,523 shares of the company traded hands, compared to its average volume of 12,642,408. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -1.54 and a beta of 6.80. Core Scientific, Inc. has a twelve month low of $2.88 and a twelve month high of $18.63. The business's 50-day moving average is $8.29 and its 200-day moving average is $12.37.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating 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. Analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Activity

In other news, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction that occurred on 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. This trade represents a 40.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jordan Levy acquired 62,500 shares of Core Scientific 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 owns 306,887 shares of the company's stock, valued at approximately $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 owned by insiders.

Analyst Ratings Changes

CORZ has been the subject of several research reports. Needham & Company LLC reduced their target price on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Cantor Fitzgerald lowered their target price 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. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Wednesday, March 12th. 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 target price on the stock. Finally, Compass Point reduced their price target on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $19.07.

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.