Y Intercept Hong Kong Ltd Acquires 311,813 Shares of Core Scientific, Inc. $CORZ

Y Intercept Hong Kong Ltd increased its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 87.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 668,435 shares of the company’s stock after acquiring an additional 311,813 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Core Scientific were worth $11,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Situational Awareness LP lifted its position in Core Scientific by 76.8% during the 2nd quarter. Situational Awareness LP now owns 7,994,038 shares of the company’s stock worth $136,458,000 after buying an additional 3,472,460 shares in the last quarter. Marshall Wace LLP increased its position in shares of Core Scientific by 416.0% in the second quarter. Marshall Wace LLP now owns 3,098,737 shares of the company’s stock valued at $52,895,000 after acquiring an additional 2,498,186 shares during the last quarter. 59 North Capital Management LP bought a new stake in Core Scientific during the second quarter worth about $35,990,000. Goodlander Investment Management LLC acquired a new position in Core Scientific during the second quarter valued at approximately $34,994,000. Finally, Westfield Capital Management Co. LP bought a new position in Core Scientific in the second quarter valued at approximately $33,844,000.

Insider Activity at Core Scientific

In related news, Director Eric Stanton Weiss purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the purchase, the director owned 226,687 shares in the company, valued at approximately $4,873,770.50. This represents a 2.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group set a $24.00 price target on Core Scientific and gave the stock a “buy” rating in a research report on Tuesday, October 28th. BTIG Research raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, January 6th. Zacks Research upgraded shares of Core Scientific from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Craig Hallum set a $27.00 price target on shares of Core Scientific in a research note on Friday, October 31st. Finally, HC Wainwright raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Core Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

Core Scientific Trading Up 3.9%

CORZ opened at $18.79 on Friday. The stock’s fifty day simple moving average is $16.37 and its 200 day simple moving average is $16.18. Core Scientific, Inc. has a 1-year low of $6.20 and a 1-year high of $23.63. The stock has a market cap of $5.83 billion, a PE ratio of 125.28 and a beta of 6.87.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Friday, October 24th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.39. The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $107.18 million. Equities analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Core Scientific 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.