Occudo Quantitative Strategies LP Makes New $452,000 Investment in Core Scientific, Inc. (NASDAQ:CORZ)

Occudo Quantitative Strategies LP purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,155 shares of the company’s stock, valued at approximately $452,000.

Other institutional investors have also recently bought and sold shares of the company. Wellington Shields & Co. LLC acquired a new position in Core Scientific during the fourth quarter worth approximately $26,000. First Horizon Advisors Inc. acquired a new position in Core Scientific during the fourth quarter worth approximately $34,000. Newbridge Financial Services Group Inc. acquired a new position in Core Scientific during the fourth quarter worth approximately $42,000. Vestcor Inc acquired a new position in Core Scientific during the fourth quarter worth approximately $66,000. Finally, US Bancorp DE acquired a new position in Core Scientific during the fourth quarter worth approximately $99,000.

Analyst Ratings Changes

Several equities analysts have recently commented on CORZ shares. Compass Point decreased their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Cantor Fitzgerald decreased their target price on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Friday, May 9th. Craig Hallum started coverage on Core Scientific in a research report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price on the stock. Finally, Oppenheimer started coverage on Core Scientific in a research report on Wednesday. They issued an “outperform” rating and a $15.00 target price on the stock. Sixteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Core Scientific has a consensus rating of “Buy” and an average target price of $18.81.

Insider Buying and Selling

In related news, Director Jordan Levy bought 62,500 shares of the business’s stock in a transaction on 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 acquisition, the director now owns 306,887 shares of the company’s stock, valued at $2,458,164.87. This represents a 25.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the transaction, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. The trade was a 40.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Core Scientific Stock Up 1.8%

Core Scientific stock opened at $10.51 on Friday. The business’s 50-day moving average price is $8.08 and its two-hundred day moving average price is $11.99. Core Scientific, Inc. has a 12-month low of $3.67 and a 12-month high of $18.63. The stock has a market cap of $3.13 billion, a PE ratio of -1.94 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $79.53 million during the quarter, compared to the consensus estimate of $92.04 million. Core Scientific’s revenue for the quarter was down 55.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. As a group, analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current 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.