Voloridge Investment Management LLC Boosts Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Voloridge Investment Management LLC grew its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,048,932 shares of the company's stock after acquiring an additional 175,587 shares during the period. Voloridge Investment Management LLC owned about 1.45% of Core Scientific worth $56,887,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vennlight Capital Management LP purchased a new position in Core Scientific in the fourth quarter valued at approximately $6,073,000. Vident Advisory LLC lifted its holdings in Core Scientific by 33.2% during the fourth quarter. Vident Advisory LLC now owns 2,192,225 shares of the company's stock valued at $30,801,000 after purchasing an additional 546,270 shares during the last quarter. Soviero Asset Management LP lifted its holdings in Core Scientific by 7.7% during the fourth quarter. Soviero Asset Management LP now owns 280,000 shares of the company's stock valued at $3,934,000 after purchasing an additional 20,000 shares during the last quarter. Two Sigma Advisers LP bought a new position in Core Scientific during the fourth quarter worth about $4,953,000. Finally, Taconic Capital Advisors LP increased its stake in shares of Core Scientific by 7.8% in the fourth quarter. Taconic Capital Advisors LP now owns 2,930,617 shares of the company's stock worth $41,175,000 after purchasing an additional 213,155 shares in the last quarter.

Analyst Ratings Changes

CORZ has been the topic of a number of recent research reports. Needham & Company LLC restated a "buy" rating and set a $16.00 price target on shares of Core Scientific in a research note on Friday, May 16th. JMP Securities assumed coverage on shares of Core Scientific in a report on Thursday. They set a "market outperform" rating and a $15.00 target price on the stock. Citigroup assumed coverage on Core Scientific in a research report on Thursday. They set an "outperform" rating on the stock. Oppenheimer assumed coverage on Core Scientific in a research report on Wednesday, May 14th. They issued an "outperform" rating and a $15.00 price target for the company. Finally, Citizens Jmp raised Core Scientific to a "strong-buy" rating and set a $15.00 price objective on the stock in a report on Thursday. Eighteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $18.33.

Core Scientific Stock Performance

Core Scientific stock traded down $0.15 during mid-day trading on Monday, hitting $10.68. 7,491,854 shares of the company traded hands, compared to its average volume of 13,321,765. Core Scientific, Inc. has a one year low of $4.46 and a one year high of $18.63. 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 stock has a fifty day moving average price of $8.34 and a 200-day moving average price of $11.84.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted 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 company had revenue of $79.53 million for the quarter, compared to the consensus estimate of $92.04 million. During the same period in the prior year, the firm posted $0.78 earnings per share. The business's revenue was down 55.6% on a year-over-year basis. Sell-side analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other Core Scientific news, Director Jordan Levy purchased 62,500 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were 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 of the company's stock, valued at $2,458,164.87. The trade was a 25.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Todd A. Becker sold 134,250 shares of the company's 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 of the company's stock, valued at $2,103,635.25. This trade 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.

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.