Thomist Capital Management LP Purchases Shares of 35,360 Core Scientific, Inc. (NASDAQ:CORZ)

Thomist Capital Management LP purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 35,360 shares of the company’s stock, valued at approximately $491,000.

Several other large investors have also recently bought and sold shares of CORZ. Wellington Shields & Co. LLC bought a new position in Core Scientific in the 4th quarter valued at about $26,000. First Horizon Advisors Inc. bought a new position in Core Scientific in the 4th quarter valued at about $34,000. Newbridge Financial Services Group Inc. bought a new position in shares of Core Scientific during the fourth quarter worth approximately $42,000. Vestcor Inc bought a new position in shares of Core Scientific during the fourth quarter worth approximately $66,000. Finally, US Bancorp DE bought a new position in shares of Core Scientific during the fourth quarter worth approximately $99,000.

Insider Transactions at Core Scientific

In other news, Director Todd A. Becker sold 134,250 shares of Core Scientific 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 transaction, the director now owns 195,687 shares in the company, valued at approximately $2,103,635.25. The trade was 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 accessible through the SEC website. Also, Director Jordan Levy purchased 62,500 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 306,887 shares of the company’s stock, valued at $2,458,164.87. This trade represents a 25.57% increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

CORZ has been the topic of several recent research reports. Oppenheimer initiated 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. Craig Hallum initiated coverage on shares of Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price on the stock. Cantor Fitzgerald lowered their target price on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Core Scientific in a report on Tuesday, March 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Core Scientific in a research report on Friday. Sixteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $18.75.

Core Scientific Price Performance

Shares of Core Scientific stock opened at $10.78 on Friday. Core Scientific, Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $18.63. The firm has a market capitalization of $3.21 billion, a P/E ratio of -1.99 and a beta of 6.66. The company’s 50 day moving average price is $8.12 and its two-hundred day moving average price is $11.95.

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