662,000 Shares in Core Scientific, Inc. (NASDAQ:CORZ) Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 662,000 shares of the company’s stock, valued at approximately $9,301,000. Canada Pension Plan Investment Board owned 0.24% of Core Scientific as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CORZ. FMR LLC boosted its stake in Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company’s stock worth $104,479,000 after purchasing an additional 7,191,428 shares during the period. Vanguard Group Inc. grew its stake in Core Scientific by 54.3% during the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock valued at $272,270,000 after acquiring an additional 6,819,406 shares in the last quarter. Helix Partners Management LP bought a new stake in Core Scientific during the 4th quarter worth approximately $86,498,000. Arrowstreet Capital Limited Partnership purchased a new stake in Core Scientific in the 4th quarter worth approximately $25,752,000. Finally, Aurelius Capital Management LP bought a new position in Core Scientific in the 4th quarter valued at $17,942,000.

Core Scientific Stock Down 3.6 %

Shares of Core Scientific stock opened at $6.39 on Tuesday. The firm has a market cap of $1.88 billion, a PE ratio of -1.18 and a beta of 6.80. The company’s fifty day simple moving average is $8.69 and its two-hundred day simple moving average is $12.51. Core Scientific, Inc. has a 12-month low of $2.88 and a 12-month high of $18.63.

Core Scientific (NASDAQ:CORZ) last announced its quarterly 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 business had revenue of $94.93 million for the quarter, compared to analysts’ expectations of $97.07 million. As a group, sell-side analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Core Scientific

In related news, 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 completion of the transaction, the chief executive officer now directly owns 3,758,793 shares of the company’s stock, valued at $61,042,798.32. This trade represents a 8.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jordan Levy acquired 62,500 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the acquisition, the director now owns 306,887 shares of the company’s stock, valued at approximately $2,458,164.87. This trade represents a 25.57 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 530,041 shares of company stock valued at $7,870,352. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods began coverage on Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 price target for the company. Craig Hallum assumed coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price on the stock. Needham & Company LLC cut their price target on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Wednesday, March 12th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Core Scientific has a consensus rating of “Buy” and a consensus price target of $19.07.

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.