Weiss Asset Management LP Boosts Stake in Core Scientific, Inc. $CORZ

Weiss Asset Management LP boosted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 51,480.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 557,590 shares of the company’s stock after buying an additional 556,509 shares during the period. Weiss Asset Management LP owned 0.18% of Core Scientific worth $8,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Core Scientific by 18.7% in the 4th quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock worth $494,462,000 after acquiring an additional 5,359,710 shares in the last quarter. Situational Awareness LP boosted its position in Core Scientific by 42.5% during the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after purchasing an additional 8,575,944 shares in the last quarter. Jericho Capital Asset Management L.P. grew its stake in Core Scientific by 11.4% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock valued at $189,842,000 after purchasing an additional 1,338,796 shares during the last quarter. Value Aligned Research Advisors LLC purchased a new position in Core Scientific in the fourth quarter valued at about $117,786,000. Finally, Geode Capital Management LLC raised its holdings in Core Scientific by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 7,651,002 shares of the company’s stock worth $111,417,000 after purchasing an additional 109,145 shares in the last quarter.

Insider Buying and Selling

In related news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $22.63, for a total value of $226,300.00. Following the completion of the sale, the insider directly owned 2,023,426 shares in the company, valued at $45,790,130.38. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 80,000 shares of company stock valued at $2,011,800. 1.70% of the stock is owned by company insiders.

Core Scientific Stock Performance

Core Scientific stock opened at $22.75 on Friday. The stock has a market cap of $7.23 billion, a PE ratio of -19.96 and a beta of 5.50. The stock has a 50-day moving average of $25.42 and a two-hundred day moving average of $20.68. Core Scientific, Inc. has a one year low of $12.60 and a one year high of $30.46.

Core Scientific (NASDAQ:CORZ) last issued 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 firm 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 business’s revenue was up 44.9% on a year-over-year basis. As a group, sell-side analysts predict that Core Scientific, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on CORZ shares. Jefferies Financial Group increased their price target on shares of Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Loop Capital set a $40.00 price objective on shares of Core Scientific in a research report on Friday, June 12th. Sanford C. Bernstein reiterated an “outperform” rating and set a $32.00 price objective on shares of Core Scientific in a research note on Wednesday, June 3rd. Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. Finally, Cantor Fitzgerald lifted their price target on shares of Core Scientific from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific presently has an average rating of “Moderate Buy” and an average target price of $30.39.

About Core Scientific

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.