6,156,437 Shares in Core Scientific, Inc. (NASDAQ:CORZ) Bought by Helix Partners Management LP

Helix Partners Management LP purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 6,156,437 shares of the company’s stock, valued at approximately $86,498,000. Core Scientific comprises about 15.2% of Helix Partners Management LP’s portfolio, making the stock its largest holding.

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

Wall Street Analysts Forecast Growth

CORZ has been the topic of a number of analyst reports. Craig Hallum assumed 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 on the stock. Needham & Company LLC reduced their target price on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Compass Point cut their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Cantor Fitzgerald lowered their price objective on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a report on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price for the company. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Core Scientific presently has an average rating of “Buy” and an average target price of $19.07.

Core Scientific Trading Up 5.3 %

Shares of Core Scientific stock opened at $8.42 on Thursday. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -1.56 and a beta of 6.83. The firm has a fifty day simple moving average of $10.43 and a 200-day simple moving average of $13.05. Core Scientific, Inc. has a 1-year low of $2.61 and a 1-year high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results 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 business had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. As a group, research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Todd M. Duchene sold 25,277 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now directly owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. This trade represents a 1.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at $61,042,798.32. This trade represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 530,041 shares of company stock worth $7,870,352. Corporate insiders own 32.00% of the company’s stock.

Core Scientific Company 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.