Core Scientific, Inc. $CORZ Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 26.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,371,211 shares of the company’s stock after purchasing an additional 1,530,466 shares during the period. Geode Capital Management LLC owned approximately 2.48% of Core Scientific worth $125,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Core Scientific by 6.2% during the 1st 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 period. Fred Alger Management LLC increased its stake in Core Scientific by 46.7% in 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 in the last quarter. Clearline Capital LP increased its stake in Core Scientific by 157.8% in the 1st quarter. Clearline Capital LP now owns 5,403,963 shares of the company’s stock valued at $39,125,000 after purchasing an additional 3,308,100 shares in the last quarter. Situational Awareness LP acquired a new position in Core Scientific during the first quarter worth $32,736,000. Finally, Vident Advisory LLC boosted its position in Core Scientific by 11.5% during 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 in the last quarter.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $15.39 on Thursday. The company has a market cap of $4.77 billion, a PE ratio of 102.61 and a beta of 6.59. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month high of $23.63. The company has a 50-day simple moving average of $18.11 and a 200-day simple moving average of $14.79.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.39. The firm had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $107.18 million. On average, analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Activity

In other Core Scientific news, Director Eric Stanton Weiss acquired 5,000 shares of the stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average price of $21.50 per share, with a total value of $107,500.00. Following the completion of the transaction, the director directly 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. B. Riley upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, October 22nd. Roth Capital restated a “buy” rating on shares of Core Scientific in a report on Friday, October 31st. Compass Point started coverage on shares of Core Scientific in a research report on Monday, September 15th. They set a “buy” rating for the company. JMP Securities reiterated a “market perform” rating on shares of Core Scientific in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group set a $24.00 price objective on Core Scientific and gave the stock a “buy” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.39.

Core Scientific 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.