Core Scientific, Inc. (NASDAQ:CORZ) Stake Boosted by Two Seas Capital LP

Two Seas Capital LP boosted its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,232,888 shares of the company's stock after purchasing an additional 527,097 shares during the quarter. Core Scientific comprises approximately 7.6% of Two Seas Capital LP's portfolio, making the stock its 5th biggest holding. Two Seas Capital LP owned approximately 2.23% of Core Scientific worth $87,572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CORZ. Vanguard Group Inc. grew its position in Core Scientific by 54.3% in the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock worth $272,270,000 after acquiring an additional 6,819,406 shares in the last quarter. ORG Wealth Partners LLC raised its holdings in shares of Core Scientific by 0.3% during the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company's stock valued at $126,262,000 after buying an additional 26,649 shares in the last quarter. FMR LLC lifted its position in Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company's stock worth $104,479,000 after buying an additional 7,191,428 shares during the last quarter. Helix Partners Management LP bought a new position in Core Scientific during the fourth quarter valued at approximately $86,498,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Core Scientific by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 5,532,715 shares of the company's stock worth $77,756,000 after acquiring an additional 256,142 shares during the last quarter.

Insider Transactions at Core Scientific

In other news, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jordan Levy acquired 62,500 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $8.01 per share, with a total value of $500,625.00. Following the acquisition, the director now directly owns 306,887 shares of the company's stock, valued at $2,458,164.87. This trade represents a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

CORZ has been the topic of a number of analyst reports. Craig Hallum initiated coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They issued a "buy" rating and a $24.00 target price on the stock. 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 target price for the company. Compass Point reduced their price target 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. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald cut their target price on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $19.07.

Core Scientific Stock Performance

Shares of CORZ traded down $0.53 on Wednesday, reaching $7.76. The stock had a trading volume of 4,050,111 shares, compared to its average volume of 12,665,394. Core Scientific, Inc. has a 12-month low of $2.88 and a 12-month high of $18.63. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -1.43 and a beta of 6.80. The company has a 50-day simple moving average of $8.15 and a 200-day simple moving average of $12.31.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to analysts' expectations of $97.07 million. On average, analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

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.