Shay Capital LLC Purchases 5,000 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Shay Capital LLC grew its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,000 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Shay Capital LLC’s holdings in Core Scientific were worth $1,124,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CORZ. Wealth Enhancement Advisory Services LLC lifted its position in shares of Core Scientific by 25.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock valued at $1,378,000 after acquiring an additional 20,000 shares during the period. JPMorgan Chase & Co. raised its position in Core Scientific by 48.0% during the third quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company’s stock valued at $5,192,000 after purchasing an additional 142,068 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Core Scientific in the 4th quarter valued at $527,000. Stephens Inc. AR bought a new position in shares of Core Scientific in the 4th quarter valued at $927,000. Finally, Exchange Traded Concepts LLC grew its position in Core Scientific by 27.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 629,329 shares of the company’s stock valued at $8,842,000 after acquiring an additional 136,212 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CORZ. Oppenheimer initiated coverage on shares of Core Scientific in a report on Wednesday. They issued an “outperform” rating and a $15.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Core Scientific in a report on Friday. Cantor Fitzgerald cut their price objective on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a report on Monday, January 27th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Compass Point reduced their target price on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Sixteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $18.75.

Core Scientific Stock Performance

Core Scientific stock opened at $10.51 on Friday. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -1.94 and a beta of 6.66. Core Scientific, Inc. has a 52-week low of $3.67 and a 52-week high of $18.63. The stock’s 50 day moving average price is $8.08 and its two-hundred day moving average price is $11.99.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. During the same period last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was down 55.6% compared to the same quarter last year. On average, equities research analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Activity

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now directly owns 195,687 shares of the company’s stock, valued at $2,103,635.25. The trade was a 40.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jordan Levy purchased 62,500 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the transaction, the director now directly 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 disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Core Scientific 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.