Soros Capital Management LLC Has $13.51 Million Stock Position in Core Scientific, Inc. $CORZ

Key Points

• Soros Capital Management LLC increased its position in Core Scientific, Inc. by 61% in Q1, now owning 1,865,399 shares worth approximately $13.51 million.
• Core Scientific reported earnings per share of ($0.04) for the latest quarter, surpassing analyst estimates but experiencing a 44.3% decline in quarterly revenue year-over-year.
• Various institutional investors have changed their stakes, including Vanguard Group and Driehaus Capital Management, indicating increasing interest in Core Scientific amidst recent market fluctuations.

Soros Capital Management LLC lifted its position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 61.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,865,399 shares of the company's stock after buying an additional 706,950 shares during the quarter. Core Scientific comprises approximately 3.5% of Soros Capital Management LLC's holdings, making the stock its 13th biggest position. Soros Capital Management LLC owned approximately 0.63% of Core Scientific worth $13,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Core Scientific by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 20,578,100 shares of the company's stock worth $148,985,000 after purchasing an additional 1,199,448 shares during the last quarter. Beryl Capital Management LLC lifted its position in shares of Core Scientific by 24.3% in the fourth quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company's stock valued at $255,423,000 after buying an additional 3,548,396 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Core Scientific by 112.1% during the 4th quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company's stock worth $144,212,000 after acquiring an additional 5,424,901 shares during the period. Parsifal Capital Management LP increased its holdings in shares of Core Scientific by 3.7% during the 4th quarter. Parsifal Capital Management LP now owns 5,615,199 shares of the company's stock worth $78,894,000 after acquiring an additional 202,374 shares during the last quarter. Finally, Fred Alger Management LLC bought a new stake in Core Scientific in the 4th quarter valued at $62,011,000.

Core Scientific Price Performance

Core Scientific stock opened at $13.55 on Monday. The firm has a market cap of $4.14 billion, a PE ratio of -24.20 and a beta of 6.60. The stock's fifty day moving average price is $13.97 and its two-hundred day moving average price is $11.06. Core Scientific, Inc. has a one year low of $6.20 and a one year high of $18.63.

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

Insider Activity at Core Scientific

In other news, insider Todd M. Duchene sold 60,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total value of $679,800.00. Following the completion of the transaction, the insider directly owned 2,100,102 shares in the company, valued at approximately $23,794,155.66. The trade was a 2.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yadin Rozov acquired 110,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was purchased 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 directly owned 475,687 shares of the company's stock, valued at $5,170,717.69. The trade was a 30.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 117,759 shares of company stock valued at $1,391,434 over the last 90 days. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. B. Riley downgraded shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Arete assumed coverage on shares of Core Scientific in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $20.00 price target on the stock. HC Wainwright reissued a "neutral" rating on shares of Core Scientific in a report on Monday, August 11th. BTIG Research cut Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 price objective for the company. in a report on Monday, July 7th. Finally, Citizens Jmp lowered Core Scientific from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $18.32.

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.

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