Two Sigma Advisers LP Acquires New Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Two Sigma Advisers LP purchased a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 352,500 shares of the company's stock, valued at approximately $4,953,000. Two Sigma Advisers LP owned approximately 0.13% of Core Scientific as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Core Scientific by 2,937.7% during the fourth quarter. FMR LLC now owns 7,436,229 shares of the company's stock worth $104,479,000 after purchasing an additional 7,191,428 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Core Scientific by 54.3% during the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock worth $272,270,000 after purchasing an additional 6,819,406 shares during the period. Helix Partners Management LP acquired a new position in shares of Core Scientific in the 4th quarter valued at approximately $86,498,000. Driehaus Capital Management LLC increased its position in shares of Core Scientific by 112.1% during the fourth 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 in the last quarter. Finally, Fred Alger Management LLC acquired a new stake in Core Scientific in the 4th quarter valued at approximately $62,011,000.

Core Scientific Price Performance

Shares of NASDAQ:CORZ traded up $0.09 during trading on Friday, reaching $10.78. 2,783,949 shares of the company's stock traded hands, compared to its average volume of 13,288,021. The stock has a market capitalization of $3.21 billion, a P/E ratio of -2.00 and a beta of 6.66. The company has a 50 day moving average of $8.48 and a 200-day moving average of $11.78. 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) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million during the quarter, compared to the consensus estimate of $92.04 million. The business's quarterly revenue was down 55.6% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. Equities research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at Core Scientific

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CORZ. Compass Point dropped their price objective on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Citigroup started coverage on Core Scientific in a research report on Thursday, May 22nd. They issued an "outperform" rating for the company. Citizens Jmp raised Core Scientific to a "strong-buy" rating and set a $15.00 target price on the stock in a research report on Thursday, May 22nd. HC Wainwright reiterated a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, Oppenheimer initiated coverage on shares of Core Scientific in a research report on Wednesday, May 14th. They set an "outperform" rating and a $15.00 target price for the company. Eighteen research 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.com, the stock has an average rating of "Buy" and an average price target of $18.33.

About Core Scientific

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.