Lonestar Capital Management LLC Sells 325,000 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Lonestar Capital Management LLC lessened its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 325,000 shares of the company’s stock after selling 325,000 shares during the quarter. Core Scientific accounts for approximately 1.7% of Lonestar Capital Management LLC’s holdings, making the stock its 12th biggest holding. Lonestar Capital Management LLC owned approximately 0.12% of Core Scientific worth $4,566,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Xponance Inc. boosted its stake in Core Scientific by 7.9% in the 4th quarter. Xponance Inc. now owns 12,800 shares of the company’s stock valued at $180,000 after buying an additional 937 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Core Scientific by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company’s stock worth $262,000 after buying an additional 1,185 shares in the last quarter. Wellington Shields & Co. LLC bought a new position in shares of Core Scientific in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. acquired a new position in shares of Core Scientific in the 4th quarter worth approximately $34,000. Finally, Joel Isaacson & Co. LLC grew its position in Core Scientific by 4.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock worth $815,000 after acquiring an additional 2,500 shares during the last quarter.

Core Scientific Stock Up 10.4 %

Shares of NASDAQ CORZ opened at $8.31 on Monday. The company’s fifty day simple moving average is $8.29 and its 200 day simple moving average is $12.38. The firm has a market cap of $2.45 billion, a PE ratio of -1.54 and a beta of 6.80. 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 for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. On average, equities analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the completion of the transaction, the director now owns 195,687 shares in the company, valued at $2,103,635.25. This trade represents a 40.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jordan Levy purchased 62,500 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the purchase, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. This represents a 25.57 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

CORZ has been the topic of several research reports. Compass Point reduced their price target on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Cantor Fitzgerald dropped their price objective on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. 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. Craig Hallum initiated coverage on Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a report on Wednesday, March 12th. 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, the company presently has a consensus rating of “Buy” and a consensus 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.