95,100 Shares in Core Scientific, Inc. $CORZ Bought by Anson Funds Management LP

Key Points

• Anson Funds Management LP acquired a new position in Core Scientific, Inc. by purchasing 95,100 shares, valued at approximately $689,000, in the first quarter of 2023.
• Core Scientific reported a quarterly earnings loss of ($0.04) per share, exceeding analysts' expectations, but its revenue fell 44.3% year-over-year to $78.63 million.
• Analysts have assigned multiple ratings to Core Scientific stock, with a consensus rating of "Hold" and a target price of $18.32.

Anson Funds Management LP bought a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 95,100 shares of the company's stock, valued at approximately $689,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust acquired a new position in Core Scientific in the 1st quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Core Scientific in the 1st quarter worth $50,000. CWM LLC boosted its stake in Core Scientific by 403.9% in the 1st 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 period. GAMMA Investing LLC boosted its stake in Core Scientific by 1,722.3% in the 1st 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 period. Finally, US Bancorp DE boosted its stake in Core Scientific by 23.7% in the 1st 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 period.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CORZ. Roth Mkm reaffirmed a "buy" rating and issued a $20.00 target price on shares of Core Scientific in a research note on Thursday, June 26th. HC Wainwright reissued a "neutral" rating on shares of Core Scientific in a research report on Monday, August 11th. BTIG Research cut shares of Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 price target on the stock. in a research report on Monday, July 7th. Oppenheimer reissued a "market perform" rating on shares of Core Scientific in a research report on Monday, July 7th. Finally, Arete assumed coverage on shares of Core Scientific in a research report on Tuesday, July 22nd. They set a "buy" rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Core Scientific currently has a consensus rating of "Hold" and a consensus target price of $18.32.

Core Scientific Price Performance

Core Scientific stock opened at $13.55 on Friday. The firm has a market capitalization of $4.14 billion, a PE ratio of -24.20 and a beta of 6.60. The company's 50-day moving average is $13.97 and its 200-day moving average is $11.07. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $18.63.

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

Insider Activity

In other news, Director Yadin Rozov acquired 110,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were bought at an average cost of $10.87 per share, for a total transaction of $1,195,700.00. Following the purchase, the director directly owned 475,687 shares of the company's stock, valued at approximately $5,170,717.69. This trade represents a 30.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 60,000 shares of the business's 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 transaction, the insider owned 2,100,102 shares in the company, valued at $23,794,155.66. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 117,759 shares of company stock worth $1,391,434 over the last 90 days. 1.40% of the stock is owned by company insiders.

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.

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