Core Scientific, Inc. (NASDAQ:CORZ) Position Raised by Taconic Capital Advisors LP

Taconic Capital Advisors LP lifted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,930,617 shares of the company's stock after purchasing an additional 213,155 shares during the period. Core Scientific accounts for 14.4% of Taconic Capital Advisors LP's investment portfolio, making the stock its 2nd biggest holding. Taconic Capital Advisors LP owned approximately 1.05% of Core Scientific worth $41,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Core Scientific by 54.3% in the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock valued at $272,270,000 after buying an additional 6,819,406 shares in the last quarter. Beryl Capital Management LLC grew its stake in Core Scientific by 24.3% in the 4th 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 in the last quarter. Driehaus Capital Management LLC grew its stake in Core Scientific by 112.1% in the 4th quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company's stock valued at $144,212,000 after buying an additional 5,424,901 shares in the last quarter. FMR LLC grew its stake in Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company's stock valued at $104,479,000 after buying an additional 7,191,428 shares in the last quarter. Finally, Two Seas Capital LP grew its stake in Core Scientific by 9.2% in the 4th quarter. Two Seas Capital LP now owns 6,232,888 shares of the company's stock valued at $87,572,000 after buying an additional 527,097 shares in the last quarter.

Insider Activity

In other news, Director Jordan Levy acquired 62,500 shares of the stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $8.01 per share, with a total value of $500,625.00. Following the completion of the purchase, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. The trade was a 25.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now directly owns 195,687 shares of the company's stock, valued at approximately $2,103,635.25. This trade represents a 40.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Core Scientific Price Performance

Core Scientific stock traded down $0.15 during mid-day trading on Friday, hitting $10.68. The company's stock had a trading volume of 7,491,854 shares, compared to its average volume of 13,321,765. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -1.97 and a beta of 6.66. The business has a 50 day moving average price of $8.34 and a 200-day moving average price of $11.87. Core Scientific, Inc. has a 12 month low of $4.46 and a 12 month high of $18.63.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on CORZ. Citizens Jmp upgraded shares of Core Scientific to a "strong-buy" rating and set a $15.00 price objective for the company in a research note on Thursday. Cantor Fitzgerald reduced their price target on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. HC Wainwright restated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, March 11th. JMP Securities assumed coverage on shares of Core Scientific in a research report on Thursday. They set a "market outperform" rating and a $15.00 price target for the company. Finally, Canaccord Genuity Group restated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Friday, May 9th. Eighteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Core Scientific has an average rating of "Buy" and a consensus target price of $18.33.

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.