Situational Awareness LP Makes New $32.74 Million Investment in Core Scientific, Inc. $CORZ

Key Points

• Situational Awareness LP purchased over 4.5 million shares of Core Scientific, valued at approximately $32.7 million, making it the firm's 9th largest holding.
• Core Scientific's reported earnings for the last quarter showed a 44.3% year-over-year decline in revenue, yet exceeded analysts' EPS estimates by posting ($0.04).
• Analysts' ratings on Core Scientific show a mix of sentiment, with an average rating of "Hold" and a target price around $18.32.

Situational Awareness LP purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,521,578 shares of the company's stock, valued at approximately $32,736,000. Core Scientific accounts for 3.3% of Situational Awareness LP's portfolio, making the stock its 9th largest holding. Situational Awareness LP owned about 1.52% of Core Scientific as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CORZ. Driehaus Capital Management LLC grew its position in Core Scientific by 112.1% in the fourth quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company's stock valued at $144,212,000 after acquiring an additional 5,424,901 shares during the period. Fred Alger Management LLC acquired a new position in Core Scientific in the fourth quarter worth $62,011,000. Beryl Capital Management LLC boosted its stake in Core Scientific by 24.3% in the fourth quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company's stock worth $255,423,000 after purchasing an additional 3,548,396 shares in the last quarter. Clearline Capital LP acquired a new position in Core Scientific in the fourth quarter worth $29,447,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Core Scientific by 1,204.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,662,406 shares of the company's stock worth $23,357,000 after purchasing an additional 1,535,012 shares in the last quarter.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 7,759 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $12.39, for a total value of $96,134.01. Following the sale, the insider directly owned 2,049,689 shares in the company, valued at $25,395,646.71. This trade represents a 0.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 117,759 shares of company stock valued at $1,391,434. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on CORZ. Barclays lowered Core Scientific to an "underweight" rating in a research note on Tuesday, July 8th. Oppenheimer reaffirmed a "market perform" rating on shares of Core Scientific in a research note on Monday, July 7th. HC Wainwright reaffirmed a "neutral" rating on shares of Core Scientific in a research note on Monday, August 11th. Arete Research raised Core Scientific to a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group upped their price target on Core Scientific from $16.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Core Scientific currently has a consensus rating of "Hold" and an average price target of $18.32.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ remained flat at $14.35 during mid-day trading on Friday. 6,447,536 shares of the company were exchanged, compared to its average volume of 17,182,600. The company has a market cap of $4.38 billion, a price-to-earnings ratio of -25.63 and a beta of 6.59. The stock has a fifty day moving average of $14.19 and a 200 day moving average of $11.12. Core Scientific, Inc. has a 1-year low of $6.20 and a 1-year high of $18.63.

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

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.