EAM Global Investors LLC Invests $3.24 Million in Core Scientific, Inc. (NASDAQ:CORZ)

EAM Global Investors LLC acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 230,861 shares of the company’s stock, valued at approximately $3,244,000. EAM Global Investors LLC owned about 0.08% of Core Scientific as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CORZ. Xponance Inc. increased its position in shares of Core Scientific by 7.9% during the 4th quarter. Xponance Inc. now owns 12,800 shares of the company’s stock valued at $180,000 after purchasing an additional 937 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in Core Scientific by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company’s stock valued at $262,000 after buying an additional 1,185 shares during the last quarter. Wellington Shields & Co. LLC bought a new position in Core Scientific in the fourth quarter worth approximately $26,000. First Horizon Advisors Inc. purchased a new position in shares of Core Scientific during the 4th quarter worth $34,000. Finally, Joel Isaacson & Co. LLC grew its position in shares of Core Scientific by 4.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock valued at $815,000 after acquiring an additional 2,500 shares during the period.

Insider Activity at Core Scientific

In related news, Director Jordan Levy purchased 62,500 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 25,277 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 530,041 shares of company stock valued at $7,870,352 over the last 90 days. 32.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on CORZ shares. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a report on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Cantor Fitzgerald cut their price objective on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Compass Point decreased their target price on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research report on Wednesday, March 12th. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. 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 Stock Down 3.0 %

Shares of Core Scientific stock opened at $6.85 on Wednesday. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -1.27 and a beta of 6.80. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The business has a 50-day moving average price of $9.16 and a 200-day moving average price of $12.65.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping 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. On average, equities analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

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.