Advantage Alpha Capital Partners LP Purchases New Position in Core Scientific, Inc. (NASDAQ:CORZ)

Advantage Alpha Capital Partners LP bought a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 134,102 shares of the company’s stock, valued at approximately $1,884,000.

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

Insider Transactions at Core Scientific

In other Core Scientific news, Director Jordan Levy purchased 62,500 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average cost of $8.01 per share, with a total value of $500,625.00. Following the completion of the purchase, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. This represents a 25.57 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Todd A. Becker sold 134,250 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the sale, the director now directly owns 195,687 shares of the company’s stock, valued at approximately $2,103,635.25. This represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 748,282 shares of company stock valued at $10,978,104 over the last 90 days. Corporate insiders own 32.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. BTIG Research lifted their target price on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Craig Hallum began coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective for the company. Compass Point lowered their target price on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Cantor Fitzgerald cut their price target on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Wednesday, March 12th. Fifteen 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, the company presently has an average rating of “Buy” and an average price target of $19.07.

Core Scientific Trading Down 0.9 %

Shares of CORZ stock opened at $8.51 on Monday. The stock has a 50 day moving average of $11.50 and a 200 day moving average of $13.18. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The stock has a market cap of $2.50 billion, a P/E ratio of -1.57 and a beta of 6.83.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million during the quarter, compared to analysts’ expectations of $97.07 million. On average, research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

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.