Havemeyer Place LP Invests $899,000 in Core Scientific, Inc. $CORZ

Havemeyer Place LP bought a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the fourth quarter, Holdings Channel.com reports. The firm bought 61,733 shares of the company’s stock, valued at approximately $899,000.

A number of other large investors also recently modified their holdings of CORZ. Jericho Capital Asset Management L.P. acquired a new position in shares of Core Scientific during the third quarter worth approximately $209,895,000. Situational Awareness LP lifted its position in shares of Core Scientific by 42.5% during the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock worth $418,694,000 after purchasing an additional 8,575,944 shares in the last quarter. Oaktree Capital Management LP acquired a new position in shares of Core Scientific during the third quarter worth approximately $114,829,000. Vanguard Group Inc. lifted its position in shares of Core Scientific by 18.7% during the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock worth $494,462,000 after purchasing an additional 5,359,710 shares in the last quarter. Finally, Goodlander Investment Management LLC acquired a new position in shares of Core Scientific during the second quarter worth approximately $34,994,000.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CORZ shares. Canaccord Genuity Group set a $30.00 target price on shares of Core Scientific in a research report on Friday, May 8th. Jefferies Financial Group boosted their price objective on Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a report on Monday, April 20th. LADENBURG THALM/SH SH dropped their price target on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, BTIG Research boosted their price target on shares of Core Scientific from $23.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.83.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.25, for a total value of $262,500.00. Following the completion of the sale, the insider owned 2,088,895 shares of the company’s stock, valued at approximately $54,833,493.75. This represents a 0.48% 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. Insiders have sold a total of 60,000 shares of company stock valued at $1,195,900 over the last ninety days. 1.70% of the stock is currently owned by corporate insiders.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $25.85 on Monday. Core Scientific, Inc. has a 52 week low of $10.93 and a 52 week high of $30.46. The company has a market capitalization of $8.22 billion, a PE ratio of -22.68 and a beta of 5.49. The company has a 50 day moving average price of $21.58 and a two-hundred day moving average price of $18.43.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, May 6th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The business had revenue of $115.24 million for the quarter, compared to analysts’ expectations of $117.04 million. During the same period in the previous year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 44.9% on a year-over-year basis. On average, sell-side analysts forecast that Core Scientific, Inc. will post 0.08 earnings per share for the current year.

Core Scientific Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.