Anson Funds Management LP Invests $689,000 in Core Scientific, Inc. $CORZ

Key Points

• Anson Funds Management LP purchased **95,100 shares** of Core Scientific, Inc., valued at approximately **$689,000**, during the 1st quarter.
• The company reported a **44.3% decline** in revenue year-over-year, totaling **$78.63 million** for the last quarter, despite outperforming analyst EPS estimates.
• Analysts have a consensus rating of **"Hold"** on Core Scientific, with one **"Strong Buy"**, eight **"Buy"**, and eleven **"Hold"** ratings, alongside a price target average of **$18.39**.

Anson Funds Management LP acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 95,100 shares of the company's stock, valued at approximately $689,000.

Several other large investors also recently bought and sold shares of CORZ. Ameriprise Financial Inc. purchased a new position in Core Scientific in the fourth quarter worth about $2,950,000. BNP Paribas Financial Markets lifted its position in shares of Core Scientific by 57.2% during the 4th quarter. BNP Paribas Financial Markets now owns 241,456 shares of the company's stock valued at $3,392,000 after buying an additional 87,872 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of Core Scientific by 16.4% during the 4th quarter. Cresset Asset Management LLC now owns 35,668 shares of the company's stock valued at $501,000 after buying an additional 5,022 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in shares of Core Scientific during the 4th quarter valued at about $9,774,000. Finally, Deutsche Bank AG lifted its position in shares of Core Scientific by 53.8% during the 4th quarter. Deutsche Bank AG now owns 165,032 shares of the company's stock valued at $2,319,000 after buying an additional 57,742 shares in the last quarter.

Insider Activity

In related news, insider Todd M. Duchene sold 7,759 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total value of $96,134.01. Following the sale, the insider owned 2,049,689 shares in the company, valued at approximately $25,395,646.71. The trade was a 0.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Analyst Ratings Changes

CORZ has been the topic of a number of research analyst reports. Citigroup cut Core Scientific from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Roth Mkm reissued a "buy" rating and issued a $20.00 price target on shares of Core Scientific in a report on Thursday, June 26th. Needham & Company LLC cut Core Scientific from a "moderate buy" rating to a "hold" rating and set a $18.00 price target on the stock. in a report on Thursday, July 10th. Jefferies Financial Group boosted their price target on Core Scientific from $16.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Finally, Craig Hallum downgraded Core Scientific from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $18.39.

Core Scientific Trading Down 1.3%

CORZ traded down $0.21 during trading on Tuesday, hitting $16.12. The company's stock had a trading volume of 3,643,856 shares, compared to its average volume of 16,294,382. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $18.63. The business's fifty day simple moving average is $13.99 and its 200 day simple moving average is $11.38. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of -28.76 and a beta of 6.59.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping 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 firm's revenue was down 44.3% compared to the same quarter last year. As a group, equities research analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Core Scientific Company 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.