Arizona State Retirement System Acquires 17,797 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Arizona State Retirement System boosted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 46.4% in the fourth quarter, HoldingsChannel reports. The firm owned 56,190 shares of the company’s stock after purchasing an additional 17,797 shares during the quarter. Arizona State Retirement System’s holdings in Core Scientific were worth $789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CORZ. ORG Wealth Partners LLC boosted its holdings in shares of Core Scientific by 0.3% during the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock worth $126,262,000 after buying an additional 26,649 shares during the period. Parsifal Capital Management LP lifted its position in Core Scientific by 3.9% during the third quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock worth $64,196,000 after acquiring an additional 204,314 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Core Scientific by 26.7% during the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after acquiring an additional 1,113,285 shares during the period. State Street Corp grew its position in shares of Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after purchasing an additional 583,493 shares during the last quarter. Finally, Taconic Capital Advisors LP increased its stake in shares of Core Scientific by 178.7% during the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock worth $32,229,000 after purchasing an additional 1,742,462 shares during the period.

Core Scientific Stock Performance

Shares of CORZ stock opened at $8.81 on Friday. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The stock’s fifty day moving average price is $12.08 and its two-hundred day moving average price is $13.20. The company has a market cap of $2.59 billion, a PE ratio of -1.63 and a beta of 6.83.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. On average, equities analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at Core Scientific

In related news, CEO Adam Taylor Sullivan sold 88,380 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the sale, the chief executive officer now owns 4,128,505 shares of the company’s stock, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jordan Levy bought 62,500 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $8.01 per share, with a total value of $500,625.00. Following the acquisition, the director now 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 disclosure for this purchase can be found here. In the last three months, insiders have sold 748,282 shares of company stock valued at $10,978,104. 32.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CORZ. Compass Point reduced their price target on Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods began coverage on shares of Core Scientific in a research report on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday. Roth Mkm started coverage on shares of Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective for the company. Finally, Needham & Company LLC decreased their target price 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. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $19.07.

Core Scientific 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.