Nicholas Investment Partners LP Grows Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Nicholas Investment Partners LP boosted its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 68.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 950,534 shares of the company's stock after buying an additional 385,365 shares during the period. Core Scientific makes up approximately 1.2% of Nicholas Investment Partners LP's investment portfolio, making the stock its 16th largest position. Nicholas Investment Partners LP owned about 0.34% of Core Scientific worth $13,355,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Core Scientific by 48.0% in the third quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company's stock worth $5,192,000 after acquiring an additional 142,068 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Core Scientific by 25.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company's stock worth $1,378,000 after buying an additional 20,000 shares during the last quarter. FNY Investment Advisers LLC raised its stake in Core Scientific by 35.8% during the fourth quarter. FNY Investment Advisers LLC now owns 190,747 shares of the company's stock worth $2,679,000 after buying an additional 50,275 shares during the last quarter. Shikiar Asset Management Inc. raised its stake in Core Scientific by 27.0% during the fourth quarter. Shikiar Asset Management Inc. now owns 95,250 shares of the company's stock worth $1,338,000 after buying an additional 20,250 shares during the last quarter. Finally, Red Door Wealth Management LLC raised its stake in Core Scientific by 124.3% during the fourth quarter. Red Door Wealth Management LLC now owns 95,378 shares of the company's stock worth $1,340,000 after buying an additional 52,851 shares during the last quarter.

Core Scientific Stock Performance

CORZ stock traded down $0.04 during mid-day trading on Monday, hitting $10.74. The company had a trading volume of 4,098,170 shares, compared to its average volume of 13,168,826. The firm has a market cap of $3.20 billion, a PE ratio of -1.99 and a beta of 6.66. Core Scientific, Inc. has a 12 month low of $3.68 and a 12 month high of $18.63. The stock's fifty day moving average price is $8.12 and its two-hundred day moving average price is $11.95.

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

Insiders Place Their Bets

In other Core Scientific news, Director Jordan Levy purchased 62,500 shares of the stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $8.01 per share, with a total value of $500,625.00. Following the completion of the transaction, the director now directly owns 306,887 shares in the company, valued at approximately $2,458,164.87. This trade represents a 25.57% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the director now directly owns 195,687 shares in the company, 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. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

CORZ has been the subject of a number of research reports. Compass Point reduced their price target 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. Oppenheimer initiated coverage on shares of Core Scientific in a report on Wednesday. They issued an "outperform" rating and a $15.00 price target for the company. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a report on Monday, January 27th. They issued an "outperform" rating and a $22.00 price target for the company. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a report on Friday, May 9th. Finally, Needham & Company LLC restated a "buy" rating and issued a $16.00 price target on shares of Core Scientific in a report on Friday. Sixteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $18.75.

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.