Core Scientific, Inc. (NASDAQ:CORZ) Shares Bought by Moore Capital Management LP

Moore Capital Management LP grew its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 185.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,640,718 shares of the company's stock after purchasing an additional 1,065,718 shares during the quarter. Moore Capital Management LP owned approximately 0.59% of Core Scientific worth $23,052,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Shields & Co. LLC purchased a new position in shares of Core Scientific in the fourth quarter worth about $26,000. First Horizon Advisors Inc. purchased a new stake in Core Scientific during the 4th quarter valued at about $34,000. Newbridge Financial Services Group Inc. acquired a new stake in Core Scientific in the 4th quarter valued at about $42,000. Vestcor Inc purchased a new position in Core Scientific in the 4th quarter worth approximately $66,000. Finally, US Bancorp DE acquired a new position in shares of Core Scientific during the 4th quarter worth approximately $99,000.

Insider Activity at Core Scientific

In other Core Scientific news, Director Jordan Levy acquired 62,500 shares of the stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price 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 in the company, valued at $2,458,164.87. This trade represents a 25.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction that occurred 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 transaction, the director now 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. 1.40% of the stock is currently owned by company insiders.

Core Scientific Price Performance

Shares of CORZ stock traded up $0.19 during trading hours on Thursday, hitting $10.51. The company had a trading volume of 13,915,042 shares, compared to its average volume of 13,119,693. The stock has a market capitalization of $3.13 billion, a PE ratio of -1.94 and a beta of 6.66. The company's fifty day moving average is $8.08 and its 200 day moving average is $11.99. Core Scientific, Inc. has a fifty-two week low of $3.67 and a fifty-two week high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. During the same quarter last year, the company earned $0.78 earnings per share. The firm's revenue for the quarter was down 55.6% on a year-over-year basis. Equities analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on CORZ. Compass Point cut their price target on Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Oppenheimer assumed coverage on Core Scientific in a research note on Wednesday. They issued an "outperform" rating and a $15.00 target price for the company. Canaccord Genuity Group reiterated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a report on Friday, May 9th. Needham & Company LLC dropped their price objective on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, HC Wainwright restated a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, March 11th. Sixteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Core Scientific currently has a consensus rating of "Buy" and an average price target of $18.81.

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.