Picton Mahoney Asset Management Acquires 142,437 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Picton Mahoney Asset Management increased its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 105.5% in the 4th quarter, Holdings Channel reports. The fund owned 277,437 shares of the company’s stock after buying an additional 142,437 shares during the quarter. Picton Mahoney Asset Management’s holdings in Core Scientific were worth $3,899,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CORZ. Wellington Shields & Co. LLC bought a new position in shares of Core Scientific in the 4th quarter worth about $26,000. First Horizon Advisors Inc. purchased a new stake in Core Scientific during the 4th quarter valued at about $34,000. Newbridge Financial Services Group Inc. purchased a new stake in Core Scientific during the 4th quarter valued at about $42,000. Vestcor Inc purchased a new stake in Core Scientific during the 4th quarter valued at about $66,000. Finally, US Bancorp DE purchased a new stake in Core Scientific during the 4th quarter valued at about $99,000.

Core Scientific Stock Up 1.7 %

Shares of NASDAQ:CORZ opened at $8.81 on Friday. The firm’s 50 day moving average price is $12.08 and its 200-day moving average price is $13.21. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The stock has a market capitalization of $2.59 billion, a PE ratio of -1.63 and a beta of 6.83.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. Analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CORZ has been the topic of several recent analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 price objective on the stock. Cantor Fitzgerald cut their price objective on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC cut their price objective on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Compass Point dropped their price target on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Core Scientific in a report on Wednesday. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $19.07.

Insiders Place Their Bets

In other news, Director Jordan Levy bought 62,500 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the purchase, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. The trade was a 25.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the sale, the chief executive officer now owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. The trade was a 8.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 748,282 shares of company stock worth $10,978,104. Company insiders own 32.00% of the company’s stock.

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.