Occudo Quantitative Strategies LP Invests $452,000 in Core Scientific, Inc. (NASDAQ:CORZ)

Occudo Quantitative Strategies LP acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 32,155 shares of the company’s stock, valued at approximately $452,000.

Several other hedge funds have also recently made changes to their positions in CORZ. Wellington Shields & Co. LLC bought a new position in shares of Core Scientific in the 4th quarter worth about $26,000. First Horizon Advisors Inc. bought a new position in shares of Core Scientific in the 4th quarter worth about $34,000. Newbridge Financial Services Group Inc. bought a new position in shares of Core Scientific in the 4th quarter worth about $42,000. Vestcor Inc bought a new position in shares of Core Scientific in the 4th quarter worth about $66,000. Finally, US Bancorp DE bought a new stake in Core Scientific in the 4th quarter valued at about $99,000.

Insider Transactions at Core Scientific

In related news, Director Todd A. Becker sold 134,250 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 195,687 shares in the company, valued at approximately $2,103,635.25. This represents a 40.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jordan Levy acquired 62,500 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the purchase, the director now owns 306,887 shares of the company’s stock, valued at $2,458,164.87. The trade was 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.

Core Scientific Stock Up 1.8%

Shares of NASDAQ CORZ opened at $10.51 on Friday. Core Scientific, Inc. has a twelve month low of $3.67 and a twelve month high of $18.63. The stock’s 50 day moving average price is $8.08 and its 200-day moving average price is $11.99. The company has a market capitalization of $3.13 billion, a PE ratio of -1.94 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million during the quarter, compared to analysts’ expectations of $92.04 million. During the same quarter in the previous year, the firm earned $0.78 EPS. Core Scientific’s quarterly revenue was down 55.6% on a year-over-year basis. As a group, research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CORZ has been the subject of a number of research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Friday, May 9th. Compass Point decreased their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Craig Hallum initiated coverage on Core Scientific in a research report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price for the company. Oppenheimer initiated coverage on Core Scientific in a research report on Wednesday. They issued an “outperform” rating and a $15.00 target price for the company. Finally, Needham & Company LLC decreased their target price on Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Sixteen 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, Core Scientific has an average rating of “Buy” and a consensus target price of $18.81.

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.