95,049 Shares in Core Scientific, Inc. (NASDAQ:CORZ) Acquired by Millennium Management LLC

Millennium Management LLC purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,049 shares of the company's stock, valued at approximately $1,335,000.

Other hedge funds have also recently modified their holdings of the company. Wellington Shields & Co. LLC acquired a new position in Core Scientific in the 4th quarter valued at $26,000. First Horizon Advisors Inc. acquired a new position in shares of Core Scientific during the fourth quarter worth about $34,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Core Scientific during the fourth quarter worth about $42,000. Vestcor Inc purchased a new position in Core Scientific during the fourth quarter worth about $66,000. Finally, US Bancorp DE acquired a new stake in Core Scientific in the fourth quarter valued at about $99,000.

Insider Buying and Selling

In related news, insider Todd M. Duchene sold 50,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the transaction, the insider now directly owns 2,050,102 shares in the company, valued at approximately $25,236,755.62. This represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Yadin Rozov purchased 110,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was acquired at an average cost of $10.87 per share, for a total transaction of $1,195,700.00. Following the completion of the purchase, the director now owns 475,687 shares in the company, valued at $5,170,717.69. The trade was a 30.08% increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Core Scientific Trading Up 2.6%

Shares of NASDAQ:CORZ traded up $0.32 on Friday, hitting $12.25. The company had a trading volume of 5,694,681 shares, compared to its average volume of 13,199,954. The company has a market cap of $3.65 billion, a PE ratio of -2.27 and a beta of 6.66. Core Scientific, Inc. has a 52-week low of $6.20 and a 52-week high of $18.63. The business has a 50 day moving average of $8.89 and a 200 day moving average of $11.58.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate 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. Core Scientific's revenue for the quarter was down 55.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share. As a group, equities analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

CORZ has been the subject of a number of analyst reports. Cantor Fitzgerald cut their target price on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. JMP Securities started coverage on Core Scientific in a report on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 target price for the company. HC Wainwright restated a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Compass Point cut their price target on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Friday, May 9th. Eighteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $18.33.

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.