Nicholas Investment Partners LP Acquires Shares of 278,407 Core Scientific, Inc. (NASDAQ:CORZ)

Nicholas Investment Partners LP purchased a new position in Core Scientific, Inc. (NASDAQ:CORZ) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 278,407 shares of the company’s stock, valued at approximately $2,589,000. Nicholas Investment Partners LP owned approximately 0.16% of Core Scientific as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific during the 2nd quarter valued at approximately $28,000. Rise Advisors LLC acquired a new stake in Core Scientific in the second quarter valued at $65,000. Aspect Partners LLC bought a new position in Core Scientific during the 1st quarter valued at $29,000. Hexagon Capital Partners LLC acquired a new position in Core Scientific during the 1st quarter worth $34,000. Finally, Silverleafe Capital Partners LLC bought a new stake in shares of Core Scientific in the 2nd quarter worth about $158,000.

Insider Activity

In related news, insider Todd M. Duchene sold 7,321 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the sale, the insider now owns 359,877 shares of the company’s stock, valued at $3,379,245.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $82,356.32. Following the sale, the chief financial officer now directly owns 122,217 shares in the company, valued at approximately $1,150,061.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 7,321 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the completion of the transaction, the insider now directly owns 359,877 shares in the company, valued at approximately $3,379,245.03. The disclosure for this sale can be found here. Over the last three months, insiders purchased 10,521 shares of company stock worth $102,328 and sold 27,655 shares worth $260,087. Insiders own 32.00% of the company’s stock.

Core Scientific Price Performance

Shares of CORZ stock opened at $9.97 on Thursday. The business has a 50 day simple moving average of $9.99 and a 200 day simple moving average of $6.67. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $12.25.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The firm had revenue of $141.10 million during the quarter, compared to the consensus estimate of $128.58 million. The firm’s revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate that Core Scientific, Inc. will post 0.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CORZ shares. HC Wainwright increased their price target on shares of Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a research note on Tuesday, September 3rd. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $14.50 target price on shares of Core Scientific in a research note on Tuesday, July 2nd. Needham & Company LLC started coverage on shares of Core Scientific in a research report on Wednesday, September 4th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, BTIG Research boosted their price objective on shares of Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $14.88.

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.