Geode Capital Management LLC Boosts Stock Holdings in Core Scientific, Inc. $CORZ

Geode Capital Management LLC raised its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 26.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,371,211 shares of the company’s stock after purchasing an additional 1,530,466 shares during the quarter. Geode Capital Management LLC’s holdings in Core Scientific were worth $125,842,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CORZ. Vanguard Group Inc. raised its position in shares of Core Scientific by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 20,578,100 shares of the company’s stock worth $148,985,000 after buying an additional 1,199,448 shares during the period. Fred Alger Management LLC increased its stake in Core Scientific by 46.7% during the first quarter. Fred Alger Management LLC now owns 6,473,552 shares of the company’s stock worth $46,869,000 after acquiring an additional 2,059,985 shares during the last quarter. Clearline Capital LP raised its holdings in shares of Core Scientific by 157.8% in the 1st quarter. Clearline Capital LP now owns 5,403,963 shares of the company’s stock worth $39,125,000 after purchasing an additional 3,308,100 shares during the period. Situational Awareness LP acquired a new position in shares of Core Scientific in the 1st quarter valued at about $32,736,000. Finally, Vident Advisory LLC grew its holdings in shares of Core Scientific by 11.5% during the 1st quarter. Vident Advisory LLC now owns 2,445,322 shares of the company’s stock worth $17,704,000 after purchasing an additional 253,097 shares during the period.

Core Scientific Price Performance

Core Scientific stock opened at $15.39 on Thursday. Core Scientific, Inc. has a 12-month low of $6.20 and a 12-month high of $23.63. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 102.61 and a beta of 6.59. The firm’s fifty day moving average price is $18.11 and its 200 day moving average price is $14.79.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Friday, October 24th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.39. The firm had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $107.18 million. Analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CORZ. Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a report on Wednesday, October 8th. JMP Securities reissued a “market perform” rating on shares of Core Scientific in a research note on Tuesday, August 12th. Sanford C. Bernstein lifted their target price on shares of Core Scientific from $17.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Jefferies Financial Group set a $24.00 price target on Core Scientific and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Compass Point initiated coverage on Core Scientific in a research report on Monday, September 15th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.39.

Insiders Place Their Bets

In other Core Scientific news, Director Eric Stanton Weiss acquired 5,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average cost of $21.50 per share, for a total transaction of $107,500.00. Following the acquisition, the director directly owned 226,687 shares of the company’s stock, valued at $4,873,770.50. This trade represents a 2.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.

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.