Quinn Opportunity Partners LLC Makes New $717,000 Investment in Core Scientific, Inc. $CORZ

Quinn Opportunity Partners LLC bought a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 42,000 shares of the company’s stock, valued at approximately $717,000.

A number of other institutional investors have also recently made changes to their positions in CORZ. Vanguard Group Inc. increased its position in Core Scientific by 6.2% during the first quarter. Vanguard Group Inc. now owns 20,578,100 shares of the company’s stock valued at $148,985,000 after acquiring an additional 1,199,448 shares during the last quarter. Fred Alger Management LLC grew its holdings in Core Scientific by 46.7% during the 1st quarter. Fred Alger Management LLC now owns 6,473,552 shares of the company’s stock valued at $46,869,000 after purchasing an additional 2,059,985 shares during the last quarter. Clearline Capital LP raised its position in Core Scientific by 157.8% in the 1st quarter. Clearline Capital LP now owns 5,403,963 shares of the company’s stock worth $39,125,000 after purchasing an additional 3,308,100 shares during the period. Situational Awareness LP bought a new stake in Core Scientific in the first quarter worth about $32,736,000. Finally, Vident Advisory LLC increased its stake in Core Scientific by 11.5% in the first quarter. Vident Advisory LLC now owns 2,445,322 shares of the company’s stock worth $17,704,000 after purchasing an additional 253,097 shares during the period.

Insider Buying and Selling

In related news, Director Eric Stanton Weiss bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average price of $21.50 per share, with a total value of $107,500.00. Following the transaction, the director owned 226,687 shares in the company, valued at approximately $4,873,770.50. This trade represents a 2.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.

Core Scientific Price Performance

Shares of CORZ stock opened at $16.44 on Thursday. The stock’s fifty day moving average price is $18.03 and its 200 day moving average price is $14.56. Core Scientific, Inc. has a 1-year low of $6.20 and a 1-year high of $23.63. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 109.61 and a beta of 6.59.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Friday, October 24th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.39. The business had revenue of $81.10 million during the quarter, compared to analyst estimates of $107.18 million. As a group, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CORZ shares. Roth Capital reiterated a “buy” rating on shares of Core Scientific in a report on Friday, October 31st. Jefferies Financial Group set a $24.00 price target on Core Scientific and gave the company a “buy” rating in a report on Tuesday, October 28th. Macquarie raised Core Scientific from a “hold” rating to an “outperform” rating and increased their price target for the stock from $18.00 to $34.00 in a research report on Friday, October 31st. Arete assumed coverage on Core Scientific in a report on Tuesday, July 22nd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Zacks Research lowered shares of Core Scientific from a “hold” rating to a “strong sell” rating in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.39.

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.