Core Scientific, Inc. (NASDAQ:CORZ) Stake Increased by Driehaus Capital Management LLC

Driehaus Capital Management LLC boosted its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 112.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,264,204 shares of the company’s stock after acquiring an additional 5,424,901 shares during the quarter. Core Scientific comprises approximately 1.2% of Driehaus Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Driehaus Capital Management LLC owned about 3.68% of Core Scientific worth $144,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company’s stock valued at $104,479,000 after purchasing an additional 7,191,428 shares in the last quarter. Vanguard Group Inc. increased its holdings in Core Scientific by 54.3% in the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock valued at $272,270,000 after buying an additional 6,819,406 shares in the last quarter. Helix Partners Management LP purchased a new position in Core Scientific in the fourth quarter valued at about $86,498,000. Beryl Capital Management LLC lifted its position in shares of Core Scientific by 24.3% during the 4th quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company’s stock valued at $255,423,000 after acquiring an additional 3,548,396 shares during the period. Finally, Jericho Capital Asset Management L.P. purchased a new stake in shares of Core Scientific during the 4th quarter worth approximately $39,240,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CORZ shares. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a report on Tuesday, March 11th. Needham & Company LLC decreased their price objective on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a report on Monday, January 27th. They set an “outperform” rating and a $22.00 target price for the company. Craig Hallum initiated coverage on shares of 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, 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 research report on Tuesday, February 25th. Fifteen equities 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, the stock has an average rating of “Buy” and a consensus target price of $19.07.

Insider Buying and Selling

In other Core Scientific news, Director Jordan Levy bought 62,500 shares of Core Scientific stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the purchase, the director now owns 306,887 shares in the company, valued at $2,458,164.87. This represents a 25.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the completion of the transaction, the director now owns 195,687 shares of the company’s stock, valued at $2,103,635.25. This trade represents a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Core Scientific Price Performance

Shares of CORZ stock opened at $8.90 on Thursday. The firm’s 50-day simple moving average is $7.94 and its 200-day simple moving average is $12.14. Core Scientific, Inc. has a 1-year low of $3.29 and a 1-year high of $18.63. The firm has a market cap of $2.62 billion, a P/E ratio of -1.65 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $1.37. The company had revenue of $79.53 million during the quarter, compared to analyst estimates of $92.04 million. The firm’s revenue for the quarter was down 55.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. Analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

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.