Geode Capital Management LLC Acquires 109,145 Shares of Core Scientific, Inc. $CORZ

Geode Capital Management LLC raised its position in Core Scientific, Inc. (NASDAQ:CORZ) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 7,651,002 shares of the company’s stock after buying an additional 109,145 shares during the period. Geode Capital Management LLC owned about 2.47% of Core Scientific worth $111,417,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Core Scientific by 18.7% in the 4th quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after buying an additional 5,359,710 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new position in Core Scientific in the 3rd quarter valued at $209,895,000. Situational Awareness LP boosted its position in Core Scientific by 76.8% in the 2nd quarter. Situational Awareness LP now owns 7,994,038 shares of the company’s stock valued at $136,458,000 after buying an additional 3,472,460 shares during the last quarter. State Street Corp boosted its position in Core Scientific by 23.2% in the 2nd quarter. State Street Corp now owns 6,517,898 shares of the company’s stock valued at $111,261,000 after buying an additional 1,225,351 shares during the last quarter. Finally, Oaktree Capital Management LP bought a new position in Core Scientific in the 3rd quarter valued at $114,829,000.

Insider Buying and Selling

In related news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $26.25, for a total transaction of $262,500.00. Following the completion of the transaction, the insider owned 2,088,895 shares in the company, valued at approximately $54,833,493.75. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 60,000 shares of company stock worth $1,195,900 in the last three months. Company insiders own 1.70% of the company’s stock.

Core Scientific Price Performance

CORZ opened at $25.85 on Friday. The business’s 50-day moving average price is $21.58 and its two-hundred day moving average price is $18.41. Core Scientific, Inc. has a 1 year low of $10.93 and a 1 year high of $30.46. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of -22.68 and a beta of 5.49.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The business had revenue of $115.24 million during the quarter, compared to analysts’ expectations of $117.04 million. Core Scientific’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. Sell-side analysts anticipate that Core Scientific, Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CORZ shares. BTIG Research increased their price objective on Core Scientific from $23.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Needham & Company LLC increased their price objective on Core Scientific from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a research report on Monday, April 20th. B. Riley Financial raised their price target on Core Scientific from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, LADENBURG THALM/SH SH reduced their price target on Core Scientific from $24.50 to $23.75 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Core Scientific presently has an average rating of “Moderate Buy” and an average target price of $28.83.

Core Scientific 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.