Marshall Wace LLP Has $20.92 Million Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Marshall Wace LLP boosted its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 233.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,489,261 shares of the company’s stock after buying an additional 1,042,587 shares during the quarter. Marshall Wace LLP owned approximately 0.53% of Core Scientific worth $20,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. EAM Global Investors LLC acquired a new stake in shares of Core Scientific in the 4th quarter valued at approximately $3,244,000. EAM Investors LLC acquired a new stake in Core Scientific in the fourth quarter valued at approximately $3,971,000. Guggenheim Capital LLC bought a new stake in shares of Core Scientific during the fourth quarter worth $234,000. Chiron Investment Management LLC acquired a new position in shares of Core Scientific during the fourth quarter worth $1,070,000. Finally, Portolan Capital Management LLC boosted its holdings in shares of Core Scientific by 85.8% during the 4th quarter. Portolan Capital Management LLC now owns 1,025,508 shares of the company’s stock valued at $14,408,000 after acquiring an additional 473,531 shares in the last quarter.

Insider Activity at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 25,277 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the transaction, the insider now directly owns 2,023,423 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the transaction, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at $61,042,798.32. This represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 530,041 shares of company stock valued at $7,870,352 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CORZ shares. Cantor Fitzgerald lowered their target price on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC dropped their price objective on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. 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. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research note on Wednesday, March 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $19.07.

Core Scientific Stock Performance

Shares of CORZ stock opened at $6.63 on Friday. The company has a market cap of $1.96 billion, a P/E ratio of -1.23 and a beta of 6.80. Core Scientific, Inc. has a fifty-two week low of $2.88 and a fifty-two week high of $18.63. The stock has a 50 day simple moving average of $8.81 and a two-hundred day simple moving average of $12.54.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. On average, research analysts predict 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.