Caitong International Asset Management Co. Ltd Acquires 45,267 Shares of Core Scientific, Inc. $CORZ

Caitong International Asset Management Co. Ltd raised its position in Core Scientific, Inc. (NASDAQ:CORZ) by 2,631.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,987 shares of the company’s stock after purchasing an additional 45,267 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Core Scientific were worth $684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Core Scientific by 18.7% during 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. Situational Awareness LP raised its stake in shares of Core Scientific by 42.5% during the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after acquiring an additional 8,575,944 shares during the last quarter. Jericho Capital Asset Management L.P. raised its position in Core Scientific by 11.4% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock valued at $189,842,000 after purchasing an additional 1,338,796 shares during the last quarter. Value Aligned Research Advisors LLC purchased a new stake in Core Scientific in the 4th quarter worth approximately $117,786,000. Finally, Geode Capital Management LLC lifted its holdings in Core Scientific by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 7,651,002 shares of the company’s stock worth $111,417,000 after buying an additional 109,145 shares during the period.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.19, for a total value of $281,900.00. Following the transaction, the insider directly owned 2,058,895 shares of the company’s stock, valued at approximately $58,040,250.05. The trade was a 0.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 80,000 shares of company stock valued at $1,746,300. Corporate insiders own 1.70% of the company’s stock.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $29.16 on Friday. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of -25.58 and a beta of 5.49. The stock has a fifty day simple moving average of $23.97 and a two-hundred day simple moving average of $19.26. Core Scientific, Inc. has a 12-month low of $10.93 and a 12-month high of $30.46.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The firm 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 firm earned $1.25 earnings per share. As a group, equities research analysts predict that Core Scientific, Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on CORZ. Cantor Fitzgerald lifted their price target on shares of Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. LADENBURG THALM/SH SH dropped their target price on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $32.00 target price on shares of Core Scientific in a research note on Wednesday, June 3rd. Lucid Cap Mkts raised shares of Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. Finally, Wall Street Zen upgraded shares of Core Scientific to a “sell” rating in a report on Saturday, March 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Core Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $29.49.

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.