Trexquant Investment LP Buys Shares of 394,227 Core Scientific, Inc. (NASDAQ:CORZ)

Trexquant Investment LP bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 394,227 shares of the company’s stock, valued at approximately $5,539,000.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Core Scientific by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 5,532,715 shares of the company’s stock worth $77,756,000 after acquiring an additional 256,142 shares during the period. OLD Mission Capital LLC grew its stake in shares of Core Scientific by 146.5% during the fourth quarter. OLD Mission Capital LLC now owns 32,192 shares of the company’s stock worth $452,000 after purchasing an additional 19,131 shares during the period. Alliancebernstein L.P. increased its holdings in Core Scientific by 8.7% in the fourth quarter. Alliancebernstein L.P. now owns 202,859 shares of the company’s stock valued at $2,850,000 after purchasing an additional 16,239 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Core Scientific in the fourth quarter valued at about $25,752,000. Finally, Orion Portfolio Solutions LLC bought a new position in Core Scientific during the fourth quarter worth about $176,000.

Core Scientific Stock Performance

Shares of NASDAQ CORZ opened at $7.18 on Friday. The stock has a 50 day moving average price of $10.07 and a 200 day moving average price of $12.98. The stock has a market capitalization of $2.12 billion, a PE ratio of -1.33 and a beta of 6.80. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. As a group, research analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling at Core Scientific

In other news, insider Todd M. Duchene sold 25,277 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now directly owns 2,023,423 shares of the company’s stock, valued at $32,860,389.52. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the transaction, the chief executive officer now directly owns 3,758,793 shares in the company, valued at $61,042,798.32. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 530,041 shares of company stock worth $7,870,352 over the last quarter. 32.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CORZ shares. Needham & Company LLC cut their price target on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Craig Hallum assumed coverage on shares of Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research note on Wednesday, March 12th. Compass Point lowered their price target on Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald cut their price target on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $19.07.

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.