Oasis Management Co Ltd. Invests $38.49 Million in Core Scientific, Inc. $CORZ

Oasis Management Co Ltd. purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,643,729 shares of the company’s stock, valued at approximately $38,493,000. Core Scientific comprises about 2.5% of Oasis Management Co Ltd.’s portfolio, making the stock its 4th largest position.

A number of other large investors have also modified their holdings of CORZ. Jericho Capital Asset Management L.P. purchased a new stake in Core Scientific in the third quarter valued at approximately $209,895,000. Situational Awareness LP boosted its position in Core Scientific by 42.5% in the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after buying an additional 8,575,944 shares during the last quarter. Oaktree Capital Management LP purchased a new stake in Core Scientific in the third quarter valued at approximately $114,829,000. Vanguard Group Inc. boosted its position in Core Scientific by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after buying an additional 5,359,710 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Core Scientific by 584.2% in the fourth quarter. JPMorgan Chase & Co. now owns 3,689,053 shares of the company’s stock valued at $53,713,000 after buying an additional 3,149,859 shares during the last quarter.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $26.85, for a total value of $268,500.00. Following the completion of the transaction, the insider directly owned 2,068,895 shares of the company’s stock, valued at approximately $55,549,830.75. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 70,000 shares of company stock valued at $1,464,400 over the last three months. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

CORZ has been the topic of a number of recent research reports. Needham & Company LLC upped their target price on Core Scientific from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Core Scientific in a research report on Tuesday, March 3rd. Jefferies Financial Group upped their target price on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $32.00 target price on shares of Core Scientific in a research report on Wednesday, June 3rd. Finally, Loop Capital set a $40.00 target price on Core Scientific in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.49.

Core Scientific Trading Up 1.4%

Shares of NASDAQ:CORZ opened at $27.60 on Friday. Core Scientific, Inc. has a 12-month low of $10.93 and a 12-month high of $30.46. The company has a market capitalization of $8.77 billion, a PE ratio of -24.21 and a beta of 5.49. The business has a 50 day moving average of $22.77 and a two-hundred day moving average of $18.82.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share (EPS) 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 the consensus estimate of $117.04 million. During the same period in the previous year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 44.9% compared to the same quarter last year. Equities research analysts predict that Core Scientific, Inc. will post 0.08 earnings per share for the current fiscal 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.