Ardmore Road Asset Management LP Acquires New Holdings in Core Scientific, Inc. $CORZ

Ardmore Road Asset Management LP bought a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,000,000 shares of the company’s stock, valued at approximately $17,070,000. Core Scientific makes up 1.4% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 27th biggest holding. Ardmore Road Asset Management LP owned 0.33% of Core Scientific as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Helix Partners Management LP grew its holdings in shares of Core Scientific by 0.5% in the 2nd quarter. Helix Partners Management LP now owns 6,029,222 shares of the company’s stock valued at $102,919,000 after acquiring an additional 29,222 shares in the last quarter. Sassicaia Capital Advisers LLC acquired a new position in Core Scientific during the second quarter valued at approximately $179,000. Diametric Capital LP grew its stake in Core Scientific by 19.9% in the second quarter. Diametric Capital LP now owns 15,300 shares of the company’s stock valued at $261,000 after purchasing an additional 2,538 shares in the last quarter. Cresset Asset Management LLC increased its position in shares of Core Scientific by 316.5% during the 2nd quarter. Cresset Asset Management LLC now owns 626,257 shares of the company’s stock worth $10,690,000 after purchasing an additional 475,879 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Core Scientific by 416.0% during the 2nd quarter. Marshall Wace LLP now owns 3,098,737 shares of the company’s stock worth $52,895,000 after purchasing an additional 2,498,186 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group set a $30.00 price objective on Core Scientific in a report on Wednesday, October 22nd. Cantor Fitzgerald increased their price target on shares of Core Scientific from $18.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Sanford C. Bernstein increased their price target on shares of Core Scientific from $17.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Jefferies Financial Group set a $24.00 price objective on shares of Core Scientific and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Finally, Roth Capital reiterated a “buy” rating on shares of Core Scientific in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.39.

Insider Activity

In other news, Director Eric Stanton Weiss bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were bought at an average price of $21.50 per share, with a total value of $107,500.00. Following the completion of the transaction, the director owned 226,687 shares of the company’s stock, valued at $4,873,770.50. This trade represents a 2.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Core Scientific Price Performance

Shares of CORZ opened at $17.11 on Friday. The firm has a market capitalization of $5.31 billion, a PE ratio of 114.07 and a beta of 6.77. The company’s 50-day moving average is $18.02 and its 200-day moving average is $15.31. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $23.63.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Friday, October 24th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.39. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $107.18 million. Analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

About Core Scientific

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.