Core Scientific, Inc. (NASDAQ:CORZ) Stock Holdings Reduced by Corbin Capital Partners L.P.

Corbin Capital Partners L.P. reduced its position in Core Scientific, Inc. (NASDAQ:CORZ) by 60.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 402,013 shares of the company’s stock after selling 625,318 shares during the period. Core Scientific makes up approximately 9.3% of Corbin Capital Partners L.P.’s holdings, making the stock its 4th largest holding. Corbin Capital Partners L.P.’s holdings in Core Scientific were worth $5,648,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Core Scientific by 41.5% in the 3rd quarter. Victory Capital Management Inc. now owns 26,633 shares of the company’s stock worth $316,000 after acquiring an additional 7,814 shares during the last quarter. Natixis Advisors LLC bought a new position in Core Scientific during the third quarter worth about $252,000. Intech Investment Management LLC purchased a new position in shares of Core Scientific in the third quarter worth about $315,000. Highland Peak Capital LLC raised its position in shares of Core Scientific by 37.9% in the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after purchasing an additional 113,584 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Core Scientific by 44.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,932,462 shares of the company’s stock valued at $22,919,000 after buying an additional 590,946 shares in the last quarter.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $8.59 on Friday. The company’s fifty day moving average price is $11.61 and its 200-day moving average price is $13.15. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -1.59 and a beta of 6.83. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.

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

Insider Activity

In other news, insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,849,220.64. Following the completion of the sale, the insider now directly owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. The trade was a 5.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the completion of the sale, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 748,282 shares of company stock worth $10,978,104. 32.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Needham & Company LLC decreased their price objective on Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Keefe, Bruyette & Woods began coverage on Core Scientific in a report on Monday, January 27th. They set an “outperform” rating and a $22.00 price objective on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. Finally, Compass Point lowered their price target 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. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and an average target price of $19.07.

Core Scientific Company 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.