Marnell Management LLC Purchases New Shares in Core Scientific, Inc. $CORZ

Marnell Management LLC purchased a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 221,872 shares of the company’s stock, valued at approximately $3,230,000. Core Scientific accounts for about 1.6% of Marnell Management LLC’s holdings, making the stock its 18th largest holding. Marnell Management LLC owned approximately 0.07% of Core Scientific at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Xponance LLC increased its stake in Core Scientific by 2.5% in the fourth quarter. Xponance LLC now owns 22,896 shares of the company’s stock worth $333,000 after purchasing an additional 562 shares during the period. Xponance Inc. increased its stake in Core Scientific by 2.7% in the third quarter. Xponance Inc. now owns 22,334 shares of the company’s stock worth $401,000 after purchasing an additional 595 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Core Scientific by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,029 shares of the company’s stock worth $377,000 after purchasing an additional 711 shares during the period. CWA Asset Management Group LLC increased its stake in Core Scientific by 0.3% in the fourth quarter. CWA Asset Management Group LLC now owns 239,937 shares of the company’s stock worth $3,493,000 after purchasing an additional 756 shares during the period. Finally, Orion Porfolio Solutions LLC increased its stake in Core Scientific by 5.2% in the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after purchasing an additional 766 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CORZ. LADENBURG THALM/SH SH reduced their target price on Core Scientific from $24.50 to $23.75 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Needham & Company LLC increased their target price on Core Scientific from $23.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Loop Capital set a $40.00 target price on Core Scientific in a research note on Friday. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Core Scientific in a research note on Tuesday, March 3rd. Finally, Canaccord Genuity Group set a $30.00 target price on Core Scientific in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.49.

Core Scientific Stock Performance

CORZ opened at $27.60 on Monday. Core Scientific, Inc. has a 12-month low of $10.93 and a 12-month high of $30.46. The business’s fifty day simple moving average is $22.77 and its 200-day simple moving average is $18.84. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of -24.21 and a beta of 5.49.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The firm had revenue of $115.24 million during the quarter, compared to analyst estimates of $117.04 million. During the same quarter last year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up 44.9% on a year-over-year basis. On average, equities research analysts predict that Core Scientific, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $26.85, for a total value of $268,500.00. Following the completion of the transaction, the insider directly owned 2,068,895 shares in the company, valued at approximately $55,549,830.75. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 70,000 shares of company stock valued at $1,464,400 in the last ninety days. Insiders own 1.70% of the company’s stock.

About Core Scientific

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.