Aigen Investment Management LP Makes New $275,000 Investment in Core Scientific, Inc. $CORZ

Key Points

• Aigen Investment Management LP acquired 38,038 shares of Core Scientific, Inc. (NASDAQ:CORZ), valued at approximately $275,000, during the first quarter.
• Insider activity included Yadin Rozov, a director, purchasing 110,000 shares for around $1.2 million, increasing his ownership by 30.08%, while Todd M. Duchene sold 60,000 shares.
• Core Scientific's stock currently holds a consensus rating of "Hold" with varying target prices from different analysts, and reported earnings of ($0.04) EPS compared to expected ($0.07).

Aigen Investment Management LP bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 38,038 shares of the company's stock, valued at approximately $275,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust acquired a new stake in Core Scientific during the first quarter worth approximately $38,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Core Scientific during the first quarter worth $50,000. CWM LLC lifted its stake in Core Scientific by 403.9% during the first quarter. CWM LLC now owns 8,092 shares of the company's stock worth $59,000 after purchasing an additional 6,486 shares during the last quarter. GAMMA Investing LLC lifted its stake in Core Scientific by 1,722.3% during the first quarter. GAMMA Investing LLC now owns 8,565 shares of the company's stock worth $62,000 after purchasing an additional 8,095 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Core Scientific by 23.7% during the first quarter. US Bancorp DE now owns 8,682 shares of the company's stock worth $63,000 after purchasing an additional 1,663 shares during the last quarter.

Core Scientific Trading Up 2.6%

NASDAQ:CORZ traded up $0.37 during trading hours on Monday, hitting $14.50. 9,521,330 shares of the company were exchanged, compared to its average volume of 16,611,178. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -25.79 and a beta of 6.60. Core Scientific, Inc. has a one year low of $6.20 and a one year high of $18.63. The company has a fifty day simple moving average of $13.80 and a 200 day simple moving average of $11.00.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $78.63 million for the quarter, compared to the consensus estimate of $82.09 million. The firm's quarterly revenue was down 44.3% on a year-over-year basis. Equities research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 60,000 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total transaction of $679,800.00. Following the completion of the sale, the insider directly owned 2,100,102 shares in the company, valued at approximately $23,794,155.66. This trade represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Yadin Rozov purchased 110,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were acquired at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the acquisition, the director owned 475,687 shares in the company, valued at approximately $5,170,717.69. This trade represents a 30.08% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 117,759 shares of company stock valued at $1,391,434. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Jefferies Financial Group upped their target price on Core Scientific from $16.00 to $22.00 and gave the stock a "buy" rating in a research note on Monday. Needham & Company LLC cut Core Scientific from a "moderate buy" rating to a "hold" rating and set a $18.00 target price for the company. in a research note on Thursday, July 10th. B. Riley cut Core Scientific from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Canaccord Genuity Group restated a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research note on Friday, June 27th. Finally, Citigroup cut Core Scientific from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $18.47.

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.