Mercuria Capital Strategies LLC Invests $2.72 Million in Core Scientific, Inc. $CORZ

Mercuria Capital Strategies LLC purchased a new position in Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 186,643 shares of the company’s stock, valued at approximately $2,718,000. Core Scientific accounts for approximately 2.2% of Mercuria Capital Strategies LLC’s portfolio, making the stock its 15th largest position. Mercuria Capital Strategies LLC owned approximately 0.06% of Core Scientific at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CORZ. AQR Capital Management LLC boosted its holdings in shares of Core Scientific by 106.1% in the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock worth $2,052,000 after acquiring an additional 145,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Core Scientific by 180.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock valued at $8,032,000 after buying an additional 714,388 shares during the period. Cetera Investment Advisers boosted its stake in Core Scientific by 200.0% during the second quarter. Cetera Investment Advisers now owns 38,819 shares of the company’s stock valued at $663,000 after buying an additional 25,878 shares during the period. Franklin Resources Inc. bought a new stake in Core Scientific during the second quarter valued at $181,000. Finally, Russell Investments Group Ltd. boosted its stake in Core Scientific by 61.9% during the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after buying an additional 1,507 shares during the period.

Analyst Upgrades and Downgrades

CORZ has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on Core Scientific from $23.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group lifted their price objective on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. LADENBURG THALM/SH SH dropped their price objective on Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. B. Riley Financial lifted their price objective on Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Core Scientific in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.83.

Core Scientific Stock Performance

NASDAQ:CORZ opened at $25.85 on Friday. The stock has a fifty day moving average of $21.58 and a 200 day moving average of $18.41. Core Scientific, Inc. has a 52-week low of $10.93 and a 52-week high of $30.46. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of -22.68 and a beta of 5.49.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The business had revenue of $115.24 million during the quarter, compared to analyst estimates of $117.04 million. During the same quarter last year, the firm earned $1.25 EPS. The firm’s quarterly revenue was up 44.9% on a year-over-year basis. Equities analysts forecast that Core Scientific, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $26.25, for a total transaction of $262,500.00. Following the sale, the insider owned 2,088,895 shares in the company, valued at $54,833,493.75. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 60,000 shares of company stock worth $1,195,900 in the last quarter. Company insiders own 1.70% of the company’s stock.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.