FNY Investment Advisers LLC Acquires New Shares in Core Scientific, Inc. $CORZ

FNY Investment Advisers LLC bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 86,040 shares of the company’s stock, valued at approximately $1,252,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CORZ. Compagnie Lombard Odier SCmA bought a new stake in shares of Core Scientific in the 4th quarter valued at about $163,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Core Scientific during the 4th quarter worth approximately $168,000. Silverleafe Capital Partners LLC acquired a new position in Core Scientific during the fourth quarter valued at approximately $1,062,000. Moody National Bank Trust Division acquired a new position in Core Scientific during the fourth quarter valued at approximately $816,000. Finally, SG Americas Securities LLC increased its stake in Core Scientific by 624.4% in the fourth quarter. SG Americas Securities LLC now owns 983,430 shares of the company’s stock valued at $14,319,000 after purchasing an additional 1,170,973 shares in the last quarter.

Core Scientific Stock Performance

Shares of CORZ opened at $16.23 on Friday. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $23.63. The firm’s 50 day moving average price is $16.90 and its two-hundred day moving average price is $17.18. The firm has a market cap of $5.12 billion, a P/E ratio of 13.87 and a beta of 6.34.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Monday, March 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $79.76 million for the quarter, compared to the consensus estimate of $118.45 million. During the same period in the prior year, the company earned ($0.69) EPS. The firm’s revenue was down 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CORZ shares. Zacks Research upgraded shares of Core Scientific from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. BTIG Research raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, January 6th. Canaccord Genuity Group upped their price objective on shares of Core Scientific from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Citizens Jmp raised Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Core Scientific currently has an average rating of “Moderate Buy” and an average price target of $24.84.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $15.25, for a total transaction of $152,500.00. Following the completion of the transaction, the insider owned 2,047,089 shares in the company, valued at approximately $31,218,107.25. This represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.40% of the company’s stock.

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.