Core Scientific, Inc. (NASDAQ:CORZ) Shares Purchased by ACR Alpine Capital Research LLC

ACR Alpine Capital Research LLC raised its position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 69.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,000 shares of the company's stock after acquiring an additional 85,000 shares during the quarter. ACR Alpine Capital Research LLC owned approximately 0.07% of Core Scientific worth $1,506,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust purchased a new position in Core Scientific during the 1st quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Core Scientific during the first quarter worth $50,000. CWM LLC boosted its holdings 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 buying an additional 6,486 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Core Scientific by 1,722.3% during the 1st quarter. GAMMA Investing LLC now owns 8,565 shares of the company's stock valued at $62,000 after acquiring an additional 8,095 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in Core Scientific in the first quarter valued at $74,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CORZ. Citigroup cut shares of Core Scientific from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. B. Riley lowered Core Scientific from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Craig Hallum downgraded Core Scientific from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 7th. BTIG Research downgraded Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 price objective on the stock. in a research report on Monday, July 7th. Finally, Needham & Company LLC cut Core Scientific from a "moderate buy" rating to a "hold" rating and set a $18.00 price objective for the company. in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of "Hold" and a consensus target price of $18.32.

Insider Activity

In other news, insider Todd M. Duchene sold 7,759 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $12.39, for a total transaction of $96,134.01. Following the completion of the sale, the insider owned 2,049,689 shares of the company's stock, valued at approximately $25,395,646.71. This trade represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yadin Rozov purchased 110,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was bought at an average cost of $10.87 per share, for a total transaction of $1,195,700.00. Following the completion of the acquisition, the director directly owned 475,687 shares of the company's stock, valued at $5,170,717.69. This represents a 30.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 117,759 shares of company stock valued at $1,391,434 over the last 90 days. Insiders own 1.40% of the company's stock.

Core Scientific Price Performance

NASDAQ CORZ traded up $0.20 during trading hours on Thursday, hitting $13.69. The company had a trading volume of 16,322,568 shares, compared to its average volume of 29,732,496. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -2.72 and a beta of 6.71. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $18.63. The firm's 50 day moving average is $12.93 and its 200 day moving average is $11.06.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. During the same period in the previous year, the firm posted $0.78 earnings per share. The company's revenue for the quarter was down 55.6% on a year-over-year basis. On average, equities analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current 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.