Millennium Management LLC Invests $1.34 Million in Core Scientific, Inc. (NASDAQ:CORZ)

Millennium Management LLC acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 95,049 shares of the company’s stock, valued at approximately $1,335,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV acquired a new position in Core Scientific during the 4th quarter valued at $114,000. Calamos Advisors LLC bought a new stake in Core Scientific in the 4th quarter valued at $1,405,000. Joel Isaacson & Co. LLC increased its holdings in Core Scientific by 4.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock valued at $815,000 after buying an additional 2,500 shares during the period. Stephens Inc. AR bought a new stake in shares of Core Scientific in the 4th quarter worth about $927,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Core Scientific in the 4th quarter worth about $42,000.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Yadin Rozov acquired 110,000 shares of Core Scientific stock in a transaction on Wednesday, May 28th. The stock was purchased at an average price of $10.87 per share, for a total transaction of $1,195,700.00. Following the purchase, the director now directly owns 475,687 shares of the company’s stock, valued at $5,170,717.69. This trade represents a 30.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 purchased at an average price of $8.01 per share, with a total value of $500,625.00. Following the purchase, the director now directly owns 306,887 shares in the company, 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 insiders.

Core Scientific Price Performance

Shares of CORZ stock opened at $11.80 on Wednesday. The business’s 50 day simple moving average is $8.69 and its 200 day simple moving average is $11.60. Core Scientific, Inc. has a one year low of $6.04 and a one year high of $18.63. The stock has a market capitalization of $3.51 billion, a PE ratio of -2.18 and a beta of 6.66.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CORZ. Citigroup started coverage on shares of Core Scientific in a report on Thursday, May 22nd. They issued an “outperform” rating on the stock. Canaccord Genuity Group restated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Friday, May 9th. Oppenheimer initiated coverage on shares of Core Scientific in a research report on Wednesday, May 14th. They set an “outperform” rating and a $15.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, Cantor Fitzgerald decreased their price target on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Eighteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $18.33.

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.