Diameter Capital Partners LP Has $31.82 Million Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Diameter Capital Partners LP decreased its position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 35.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,265,000 shares of the company's stock after selling 1,232,739 shares during the quarter. Core Scientific comprises about 4.8% of Diameter Capital Partners LP's holdings, making the stock its 8th largest position. Diameter Capital Partners LP owned 0.81% of Core Scientific worth $31,823,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 buying an additional 6,819,406 shares during the period. Beryl Capital Management LLC boosted its holdings 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. ORG Wealth Partners LLC grew its stake in shares of Core Scientific by 0.3% during the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company's stock valued at $126,262,000 after buying an additional 26,649 shares during the period. FMR LLC increased its holdings in shares of 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 buying an additional 7,191,428 shares during the last quarter. Finally, Two Seas Capital LP boosted its holdings in Core Scientific by 9.2% in the fourth quarter. Two Seas Capital LP now owns 6,232,888 shares of the company's stock valued at $87,572,000 after acquiring an additional 527,097 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CORZ shares. Cantor Fitzgerald reduced their price objective on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC cut their target price on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Friday. HC Wainwright restated a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, Craig Hallum began 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. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $19.07.

Core Scientific Price Performance

CORZ traded down $0.13 during trading hours on Friday, hitting $9.32. 7,891,097 shares of the stock were exchanged, compared to its average volume of 12,986,268. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -1.72 and a beta of 6.66. The stock has a 50-day simple moving average of $7.92 and a 200-day simple moving average of $12.09. Core Scientific, Inc. has a 12 month low of $3.46 and a 12 month high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the previous year, the business posted $0.78 earnings per share. The company's quarterly revenue was down 55.6% compared to the same quarter last year. Sell-side analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Activity

In other news, Director Jordan Levy purchased 62,500 shares of Core Scientific stock in a transaction dated Thursday, March 6th. The stock was bought at an average price 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 in the company, valued at $2,458,164.87. The trade was a 25.57 % increase 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 Todd A. Becker sold 134,250 shares of Core Scientific 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 completion of the sale, the director now owns 195,687 shares in the company, valued at approximately $2,103,635.25. This represents a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

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.