Dilation Capital Management LP Acquires New Shares in Core Scientific, Inc. (NASDAQ:CORZ)

Dilation Capital Management LP acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 85,490 shares of the company's stock, valued at approximately $1,201,000. Core Scientific accounts for 1.1% of Dilation Capital Management LP's holdings, making the stock its 20th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CORZ. Sanctuary Advisors LLC raised its holdings in shares of Core Scientific by 130.1% during the third quarter. Sanctuary Advisors LLC now owns 34,527 shares of the company's stock worth $409,000 after acquiring an additional 19,522 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Core Scientific by 48.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company's stock valued at $5,192,000 after buying an additional 142,068 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Core Scientific by 25.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company's stock valued at $1,378,000 after acquiring an additional 20,000 shares in the last quarter. ORG Wealth Partners LLC grew its position in Core Scientific by 0.3% in 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. Finally, FNY Investment Advisers LLC increased its stake in shares of Core Scientific by 35.8% during the 4th quarter. FNY Investment Advisers LLC now owns 190,747 shares of the company's stock worth $2,679,000 after purchasing an additional 50,275 shares during the last quarter.

Insider Buying and Selling

In other news, Director Jordan Levy bought 62,500 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the transaction, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. The trade was a 25.57 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction dated 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 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 disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Core Scientific Stock Performance

NASDAQ CORZ traded up $0.78 during trading on Friday, reaching $8.31. 13,719,523 shares of the company traded hands, compared to its average volume of 12,688,100. Core Scientific, Inc. has a 1-year low of $2.88 and a 1-year high of $18.63. The stock's 50 day moving average price is $8.29 and its two-hundred day moving average price is $12.37. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -1.54 and a beta of 6.80.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to the consensus estimate of $97.07 million. Equities research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CORZ shares. HC Wainwright reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Needham & Company LLC reduced their price target 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. Craig Hallum assumed 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. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a report on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price for the company. Finally, Compass Point lowered their price target on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $19.07.

About Core Scientific

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.