Oasis Management Co Ltd. Acquires New Shares in Core Scientific, Inc. $CORZ

Oasis Management Co Ltd. acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,643,729 shares of the company’s stock, valued at approximately $38,493,000. Core Scientific makes up approximately 2.5% of Oasis Management Co Ltd.’s portfolio, making the stock its 4th biggest position. Oasis Management Co Ltd. owned 0.85% of Core Scientific as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of Core Scientific by 206.5% in the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after acquiring an additional 950 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Core Scientific by 936.7% in the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after acquiring an additional 1,686 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Core Scientific by 112.1% in the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after acquiring an additional 1,066 shares in the last quarter. Danske Bank A S bought a new stake in shares of Core Scientific in the fourth quarter valued at about $36,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Core Scientific by 61.9% in the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after acquiring an additional 1,507 shares in the last quarter.

Insider Buying and Selling at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $26.85, for a total transaction of $268,500.00. Following the sale, the insider owned 2,068,895 shares in the company, valued at approximately $55,549,830.75. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 70,000 shares of company stock worth $1,464,400 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CORZ shares. Cantor Fitzgerald lifted their price objective on Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. LADENBURG THALM/SH SH reduced their target price on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Needham & Company LLC boosted their target price on shares of Core Scientific from $23.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Jefferies Financial Group boosted their target price on shares of Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, BTIG Research boosted their target price on shares of Core Scientific from $23.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Core Scientific has an average rating of “Moderate Buy” and an average price target of $29.49.

Core Scientific Stock Performance

Shares of CORZ stock opened at $27.60 on Friday. Core Scientific, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $30.46. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of -24.21 and a beta of 5.49. The stock’s 50-day simple moving average is $22.77 and its 200-day simple moving average is $18.82.

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

About Core Scientific

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.