Nicholas Investment Partners LP Takes $4.45 Million Position in Core Scientific, Inc. $CORZ

Nicholas Investment Partners LP bought a new position in Core Scientific, Inc. (NASDAQ:CORZ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 173,701 shares of the company’s stock, valued at approximately $4,445,000. Nicholas Investment Partners LP owned 0.05% of Core Scientific as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new stake in Core Scientific in the 2nd quarter worth about $719,649,000. Situational Awareness LP boosted its position in Core Scientific by 42.5% during the 4th quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock worth $418,694,000 after acquiring an additional 8,575,944 shares during the period. Value Aligned Research Advisors LLC purchased a new position in Core Scientific during the 4th quarter valued at about $117,786,000. Vanguard Group Inc. grew its stake in Core Scientific by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after acquiring an additional 5,359,710 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new position in Core Scientific during the 1st quarter valued at about $59,802,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CORZ. Loop Capital set a $40.00 price target on shares of Core Scientific in a research report on Friday, June 12th. BTIG Research reaffirmed a “buy” rating and set a $38.00 price objective on shares of Core Scientific in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $25.00 to $28.00 in a research note on Thursday, July 30th. Capital One Financial set a $33.00 price objective on shares of Core Scientific in a research note on Thursday, July 30th. Finally, B. Riley Financial increased their target price on shares of Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Core Scientific currently has an average rating of “Moderate Buy” and an average target price of $32.18.

Insider Buying and Selling

In related news, insider Todd M. Duchene sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $19.97, for a total transaction of $199,700.00. Following the transaction, the insider owned 1,969,101 shares of the company’s stock, valued at approximately $39,322,946.97. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Stanton Weiss bought 7,000 shares of Core Scientific stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $19.19 per share, with a total value of $134,330.00. Following the completion of the purchase, the director directly owned 259,262 shares of the company’s stock, valued at approximately $4,975,237.78. The trade was a 2.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 90,000 shares of company stock worth $2,185,800 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $17.27 on Tuesday. Core Scientific, Inc. has a one year low of $13.14 and a one year high of $30.46. The business’s 50-day moving average price is $22.75 and its two-hundred day moving average price is $21.01. The company has a market capitalization of $5.55 billion, a P/E ratio of -3.91 and a beta of 5.59.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The firm had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. On average, equities analysts anticipate that Core Scientific, Inc. will post -1.36 EPS for the current year.

Core Scientific Company 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.