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

Diameter Capital Partners LP reduced its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 35.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,265,000 shares of the company's stock after selling 1,232,739 shares during the period. Core Scientific accounts for about 4.8% of Diameter Capital Partners LP's holdings, making the stock its 8th biggest position. Diameter Capital Partners LP owned about 0.81% of Core Scientific worth $31,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Core Scientific by 54.3% during 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 period. Beryl Capital Management LLC increased its stake in Core Scientific by 24.3% during the fourth quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company's stock valued at $255,423,000 after acquiring an additional 3,548,396 shares during the period. ORG Wealth Partners LLC raised its stake in Core Scientific by 0.3% during the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company's stock worth $126,262,000 after acquiring an additional 26,649 shares in the last quarter. FMR LLC increased its position in Core Scientific by 2,937.7% in the 4th 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 in the last quarter. Finally, Two Seas Capital LP raised its position in shares of Core Scientific by 9.2% during the 4th 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.

Insider Activity at Core Scientific

In other Core Scientific news, Director Jordan Levy acquired 62,500 shares of the stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the acquisition, the director now directly 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 transaction was disclosed in a 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 business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now owns 195,687 shares in the company, valued at $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. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a research report on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price for the company. Compass Point cut their price target on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Craig Hallum started coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price target for the company. Cantor Fitzgerald lowered their price objective on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Finally, 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. Fifteen research 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, Core Scientific has an average rating of "Buy" and a consensus price target of $19.07.

Core Scientific Stock Up 7.2%

Shares of CORZ stock traded up $0.68 during trading hours on Monday, reaching $10.00. 7,986,137 shares of the stock traded hands, compared to its average volume of 12,987,166. The business has a fifty day moving average price of $7.92 and a 200 day moving average price of $12.06. Core Scientific, Inc. has a 1-year low of $3.46 and a 1-year high of $18.63. The firm has a market capitalization of $2.95 billion, a PE ratio of -1.86 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $79.53 million during the quarter, compared to the consensus estimate of $92.04 million. During the same quarter last year, the business earned $0.78 EPS. The business's revenue was down 55.6% compared to the same quarter last year. Research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal 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.