Vestcor Inc Makes New Investment in Core Scientific, Inc. (NASDAQ:CORZ)

Vestcor Inc acquired a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,706 shares of the company’s stock, valued at approximately $66,000.

Several other hedge funds have also made changes to their positions in the business. ORG Wealth Partners LLC boosted its holdings in shares of Core Scientific by 0.3% during the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock worth $126,262,000 after purchasing an additional 26,649 shares during the last quarter. Parsifal Capital Management LP boosted its holdings in shares of Core Scientific by 3.9% during the third quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock worth $64,196,000 after purchasing an additional 204,314 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Core Scientific by 26.7% during the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after purchasing an additional 1,113,285 shares during the last quarter. State Street Corp boosted its holdings in shares of Core Scientific by 17.0% during the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock worth $47,522,000 after purchasing an additional 583,493 shares during the last quarter. Finally, Taconic Capital Advisors LP boosted its holdings in shares of Core Scientific by 178.7% during the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock worth $32,229,000 after purchasing an additional 1,742,462 shares during the last quarter.

Core Scientific Price Performance

Shares of CORZ opened at $8.02 on Wednesday. The stock’s 50-day moving average is $11.83 and its two-hundred day moving average is $13.21. The stock has a market cap of $2.36 billion, a PE ratio of -1.48 and a beta of 6.83. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analysts’ expectations of $97.07 million. On average, research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CORZ. Cantor Fitzgerald decreased their price objective on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. BTIG Research lifted their target price on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 16th. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a report on Tuesday, March 11th. Finally, Craig Hallum began coverage on Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price on the stock. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $19.07.

Insider Transactions at Core Scientific

In other news, CEO Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the sale, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. The trade was a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 25,277 shares of Core Scientific stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the sale, the insider now directly owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 748,282 shares of company stock valued at $10,978,104. 32.00% of the stock is currently owned by insiders.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.