Marshall Wace LLP Buys 1,042,587 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Marshall Wace LLP lifted its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 233.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,489,261 shares of the company's stock after acquiring an additional 1,042,587 shares during the quarter. Marshall Wace LLP owned approximately 0.53% of Core Scientific worth $20,924,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Xponance Inc. raised its stake in Core Scientific by 7.9% in the 4th quarter. Xponance Inc. now owns 12,800 shares of the company's stock valued at $180,000 after acquiring an additional 937 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Core Scientific by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company's stock worth $262,000 after acquiring an additional 1,185 shares during the period. Wellington Shields & Co. LLC acquired a new stake in shares of Core Scientific in the 4th quarter valued at $26,000. First Horizon Advisors Inc. acquired a new stake in Core Scientific in the fourth quarter valued at about $34,000. Finally, Joel Isaacson & Co. LLC grew its holdings in shares of Core Scientific by 4.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company's stock valued at $815,000 after purchasing an additional 2,500 shares during the last quarter.

Analyst Upgrades and Downgrades

CORZ has been the subject of several recent research reports. Keefe, Bruyette & Woods started coverage on Core Scientific in a research note on Monday, January 27th. They issued an "outperform" rating and a $22.00 price objective for the company. Compass Point cut their target price 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. HC Wainwright restated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, March 11th. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. Finally, Craig Hallum began coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price target on the stock. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $19.07.

Core Scientific Stock Up 9.2 %

CORZ traded up $0.70 during trading hours on Friday, hitting $8.23. The stock had a trading volume of 8,017,983 shares, compared to its average volume of 12,582,710. The stock has a market cap of $2.43 billion, a PE ratio of -1.52 and a beta of 6.80. Core Scientific, Inc. has a 1 year low of $2.88 and a 1 year high of $18.63. The company's fifty day simple moving average is $8.37 and its 200 day simple moving average is $12.40.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analysts' expectations of $97.07 million. As a group, equities analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Activity at Core Scientific

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

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.