Vennlight Capital Management LP Takes Position in Core Scientific, Inc. (NASDAQ:CORZ)

Vennlight Capital Management LP acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 432,271 shares of the company's stock, valued at approximately $6,073,000. Core Scientific makes up about 5.8% of Vennlight Capital Management LP's portfolio, making the stock its 9th biggest position. Vennlight Capital Management LP owned 0.15% of Core Scientific at the end of the most recent quarter.

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

Core Scientific Price Performance

Shares of CORZ stock traded up $0.05 during trading hours on Thursday, hitting $10.83. The stock had a trading volume of 14,423,159 shares, compared to its average volume of 13,296,092. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -2.00 and a beta of 6.66. Core Scientific, Inc. has a one year low of $3.99 and a one year high of $18.63. The stock's 50-day moving average price is $8.28 and its two-hundred day moving average price is $11.90.

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 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 last year, the company earned $0.78 earnings per share. The firm's revenue was down 55.6% on a year-over-year basis. As a group, equities research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jordan Levy acquired 62,500 shares of the business's stock in a transaction on Thursday, March 6th. The shares were 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. The trade was a 25.57% increase in their position. The acquisition was disclosed in a legal 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 on 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 completion of the sale, the director now directly owns 195,687 shares in the company, valued at approximately $2,103,635.25. This represents a 40.69% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on CORZ shares. Compass Point reduced their target price 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. Citizens Jmp assumed coverage on shares of Core Scientific in a research report on Thursday. They set an "outperform" rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a report on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $16.00 price target on shares of Core Scientific in a report on Friday, May 16th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research report on Friday, May 9th. Eighteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Core Scientific has a consensus 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.