Thomist Capital Management LP Makes New $491,000 Investment in Core Scientific, Inc. (NASDAQ:CORZ)

Thomist Capital Management LP acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 35,360 shares of the company's stock, valued at approximately $491,000.

A number of other large investors have also recently made changes to their positions in the business. Wellington Shields & Co. LLC purchased a new position in shares of Core Scientific during the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. purchased a new stake in Core Scientific in the fourth quarter worth $34,000. Newbridge Financial Services Group Inc. bought a new position in Core Scientific in the fourth quarter worth $42,000. Vestcor Inc purchased a new stake in shares of Core Scientific in the 4th quarter worth about $66,000. Finally, US Bancorp DE bought a new stake in shares of Core Scientific in the 4th quarter worth approximately $99,000.

Analyst Ratings Changes

CORZ has been the subject of several recent analyst reports. Keefe, Bruyette & Woods began coverage on shares of Core Scientific in a report on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price for the company. JMP Securities assumed coverage on Core Scientific in a research note on Thursday. They set a "market outperform" rating and a $15.00 target price on the stock. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research note on Friday, May 9th. Compass Point dropped their price objective on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Finally, Citizens Jmp raised Core Scientific to a "strong-buy" rating and set a $15.00 target price for the company in a research report on Thursday. Eighteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $18.33.

Insider Buying and Selling

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

Core Scientific Price Performance

Shares of NASDAQ:CORZ traded down $0.21 during trading on Friday, hitting $10.63. The company had a trading volume of 2,890,896 shares, compared to its average volume of 13,256,213. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -1.96 and a beta of 6.66. The company has a fifty day simple moving average of $8.28 and a two-hundred day simple moving average of $11.90. Core Scientific, Inc. has a one year low of $3.99 and a one year high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) 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 analysts' expectations of $92.04 million. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm's quarterly revenue was down 55.6% compared to the same quarter last year. On average, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share 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.