Alyeska Investment Group L.P. Sells 538,069 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Alyeska Investment Group L.P. lowered its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 55.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 440,856 shares of the company’s stock after selling 538,069 shares during the quarter. Alyeska Investment Group L.P. owned 0.16% of Core Scientific worth $6,194,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CORZ. JPMorgan Chase & Co. boosted its holdings in Core Scientific by 48.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company’s stock worth $5,192,000 after acquiring an additional 142,068 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Core Scientific by 25.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock worth $1,378,000 after purchasing an additional 20,000 shares during the last quarter. ORG Wealth Partners LLC grew its position in Core Scientific by 0.3% in the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock worth $126,262,000 after purchasing an additional 26,649 shares in the last quarter. FNY Investment Advisers LLC increased its stake in Core Scientific by 35.8% in the 4th quarter. FNY Investment Advisers LLC now owns 190,747 shares of the company’s stock valued at $2,679,000 after buying an additional 50,275 shares during the last quarter. Finally, Shikiar Asset Management Inc. lifted its position in shares of Core Scientific by 27.0% during the 4th quarter. Shikiar Asset Management Inc. now owns 95,250 shares of the company’s stock worth $1,338,000 after buying an additional 20,250 shares in the last quarter.

Core Scientific Stock Performance

NASDAQ:CORZ opened at $8.75 on Tuesday. The business’s fifty day moving average is $8.02 and its 200 day moving average is $12.18. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -1.62 and a beta of 6.66. Core Scientific, Inc. has a 52-week low of $3.29 and a 52-week 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, topping analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million during the quarter, compared to analysts’ expectations of $97.07 million. Equities analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at Core Scientific

In related news, Director Jordan Levy purchased 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, with a total value of $500,625.00. Following the purchase, the director now directly owns 306,887 shares in the company, valued at approximately $2,458,164.87. This represents a 25.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Todd A. Becker sold 134,250 shares of the firm’s stock in a transaction on 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 sale, the director now owns 195,687 shares in the company, valued at approximately $2,103,635.25. This trade represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

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