Core Scientific, Inc. $CORZ Shares Acquired by Situational Awareness LP

Situational Awareness LP raised its position in Core Scientific, Inc. (NASDAQ:CORZ) by 42.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,756,478 shares of the company’s stock after purchasing an additional 8,575,944 shares during the quarter. Core Scientific accounts for about 7.6% of Situational Awareness LP’s holdings, making the stock its 5th biggest holding. Situational Awareness LP owned about 9.27% of Core Scientific worth $418,694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Xponance Inc. boosted its position in Core Scientific by 2.7% during the 3rd quarter. Xponance Inc. now owns 22,334 shares of the company’s stock worth $401,000 after buying an additional 595 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Core Scientific by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,029 shares of the company’s stock valued at $377,000 after acquiring an additional 711 shares during the period. CWA Asset Management Group LLC raised its stake in shares of Core Scientific by 0.3% during the fourth quarter. CWA Asset Management Group LLC now owns 239,937 shares of the company’s stock valued at $3,493,000 after acquiring an additional 756 shares during the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of Core Scientific by 5.2% during the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after purchasing an additional 766 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Core Scientific by 206.5% during the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after purchasing an additional 950 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. B. Riley Financial increased their price objective on Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Cantor Fitzgerald upped their price target on Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Needham & Company LLC increased their price target on Core Scientific from $23.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a research report on Monday, April 20th. Finally, BTIG Research lifted their price objective on Core Scientific from $23.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.83.

Insider Activity

In other 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 value of $262,500.00. Following the completion of the sale, the insider directly owned 2,088,895 shares in the company, valued at $54,833,493.75. This trade represents a 0.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 60,000 shares of company stock worth $1,195,900. 1.70% of the stock is owned by corporate insiders.

Core Scientific Stock Down 7.4%

NASDAQ:CORZ opened at $25.85 on Friday. Core Scientific, Inc. has a twelve month low of $10.93 and a twelve month high of $30.46. The company has a fifty day moving average of $21.58 and a 200-day moving average of $18.41. The firm has a market capitalization of $8.22 billion, a P/E ratio of -22.68 and a beta of 5.49.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The company had revenue of $115.24 million for the quarter, compared to analyst estimates of $117.04 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. On average, analysts anticipate that Core Scientific, Inc. will post 0.16 EPS for the current fiscal year.

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.