Trexquant Investment LP Acquires New Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Trexquant Investment LP bought a new position in Core Scientific, Inc. (NASDAQ:CORZ) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 394,227 shares of the company’s stock, valued at approximately $5,539,000. Trexquant Investment LP owned approximately 0.14% of Core Scientific as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Wellington Shields & Co. LLC bought a new position in shares of Core Scientific in the 4th quarter valued at approximately $26,000. First Horizon Advisors Inc. acquired a new position in Core Scientific during the fourth quarter valued at approximately $34,000. Newbridge Financial Services Group Inc. bought a new position in shares of Core Scientific in the fourth quarter valued at approximately $42,000. Vestcor Inc acquired a new stake in shares of Core Scientific in the fourth quarter worth $66,000. Finally, US Bancorp DE bought a new stake in shares of Core Scientific during the 4th quarter worth $99,000.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Cantor Fitzgerald cut their target price on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. Craig Hallum started coverage on Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target for the company. Finally, Compass Point lowered their price objective on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Core Scientific presently has a consensus rating of “Buy” and an average target price of $19.07.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 25,277 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now owns 2,023,423 shares of the company’s stock, valued at $32,860,389.52. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jordan Levy acquired 62,500 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $8.01 per share, with a total value of $500,625.00. Following the transaction, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. The trade was a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 530,041 shares of company stock valued at $7,870,352. 32.00% of the stock is owned by insiders.

Core Scientific Stock Up 0.4 %

Shares of CORZ opened at $7.18 on Friday. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -1.33 and a beta of 6.80. The company has a 50-day moving average price of $10.07 and a two-hundred day moving average price of $12.98.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. Equities research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Core Scientific Company Profile

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.