Shay Capital LLC Acquires 5,000 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Shay Capital LLC grew its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 6.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 80,000 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Shay Capital LLC’s holdings in Core Scientific were worth $1,124,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Core Scientific by 48.0% in the third quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company’s stock valued at $5,192,000 after buying an additional 142,068 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Core Scientific by 25.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock valued at $1,378,000 after acquiring an additional 20,000 shares during the period. Shikiar Asset Management Inc. boosted its holdings in shares of Core Scientific by 27.0% in the fourth quarter. Shikiar Asset Management Inc. now owns 95,250 shares of the company’s stock worth $1,338,000 after acquiring an additional 20,250 shares during the period. Red Door Wealth Management LLC boosted its stake in Core Scientific by 124.3% in the 4th quarter. Red Door Wealth Management LLC now owns 95,378 shares of the company’s stock worth $1,340,000 after purchasing an additional 52,851 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Core Scientific by 27.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 629,329 shares of the company’s stock valued at $8,842,000 after buying an additional 136,212 shares in the last quarter.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Jordan Levy acquired 62,500 shares of the business’s stock in a transaction 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 acquisition, the director now owns 306,887 shares in the company, valued at $2,458,164.87. This trade represents a 25.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction that occurred 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 transaction, the director now owns 195,687 shares of the company’s stock, valued at $2,103,635.25. The trade was a 40.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $10.51 on Friday. The company has a market cap of $3.13 billion, a PE ratio of -1.94 and a beta of 6.66. Core Scientific, Inc. has a 1 year low of $3.67 and a 1 year high of $18.63. The stock’s 50-day moving average is $8.08 and its 200 day moving average is $11.99.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million for the quarter, compared to the consensus estimate of $92.04 million. During the same quarter in the prior year, the company earned $0.78 EPS. Core Scientific’s revenue was down 55.6% compared to the same quarter last year. Analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CORZ has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Core Scientific in a research note on Friday. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Friday, May 9th. Keefe, Bruyette & Woods started coverage on Core Scientific in a research note on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price on the stock. 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. Finally, Oppenheimer began coverage on shares of Core Scientific in a report on Wednesday. They set an “outperform” rating and a $15.00 target price on the stock. Sixteen 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 an average price target of $18.75.

About Core Scientific

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.