Core Scientific, Inc. (NASDAQ:CORZ) Shares Purchased by Parsifal Capital Management LP

Parsifal Capital Management LP increased its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,615,199 shares of the company’s stock after buying an additional 202,374 shares during the quarter. Core Scientific accounts for about 6.6% of Parsifal Capital Management LP’s portfolio, making the stock its 8th largest position. Parsifal Capital Management LP’s holdings in Core Scientific were worth $78,894,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CORZ. Wellington Shields & Co. LLC purchased a new stake in shares of Core Scientific during the fourth quarter worth about $26,000. First Horizon Advisors Inc. acquired a new stake in Core Scientific in the 4th quarter worth approximately $34,000. Newbridge Financial Services Group Inc. acquired a new stake in Core Scientific in the 4th quarter worth approximately $42,000. Vestcor Inc purchased a new stake in Core Scientific during the 4th quarter worth approximately $66,000. Finally, US Bancorp DE acquired a new position in Core Scientific during the 4th quarter valued at approximately $99,000.

Core Scientific Stock Up 3.6%

Shares of CORZ opened at $10.24 on Wednesday. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -1.89 and a beta of 6.66. Core Scientific, Inc. has a 52 week low of $3.46 and a 52 week high of $18.63. The stock’s 50-day moving average price is $7.93 and its 200-day moving average price is $12.04.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. The company had revenue of $79.53 million during the quarter, compared to analysts’ expectations of $92.04 million. The company’s revenue for the quarter was down 55.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 EPS. As a group, equities analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at Core Scientific

In other news, Director Jordan Levy acquired 62,500 shares of the firm’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 completion of the transaction, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. The trade was a 25.57% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd A. Becker sold 134,250 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the sale, the director now directly owns 195,687 shares in the company, valued at approximately $2,103,635.25. The trade was a 40.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

CORZ has been the subject of several research reports. Craig Hallum started coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective for the company. Needham & Company LLC reduced their target price on Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods initiated coverage on Core Scientific in a research note on Monday, January 27th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Friday, May 9th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average 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.