Mercuria Capital Strategies LLC Buys New Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Mercuria Capital Strategies LLC acquired a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 175,000 shares of the company’s stock, valued at approximately $2,459,000. Core Scientific makes up approximately 0.9% of Mercuria Capital Strategies LLC’s investment portfolio, making the stock its 9th biggest position.

Other hedge funds have also modified their holdings of the company. Rush Island Management LP acquired a new position in shares of Core Scientific during the 3rd quarter worth $32,221,000. Taconic Capital Advisors LP grew its holdings in Core Scientific by 178.7% in the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after buying an additional 1,742,462 shares during the period. Mirabella Financial Services LLP purchased a new stake in Core Scientific in the 3rd quarter valued at about $18,383,000. Geode Capital Management LLC grew its holdings in shares of Core Scientific by 26.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after purchasing an additional 1,113,285 shares during the period. Finally, Whitefort Capital Management LP grew its holdings in shares of Core Scientific by 337.1% during the 3rd quarter. Whitefort Capital Management LP now owns 1,147,500 shares of the company’s stock worth $13,609,000 after purchasing an additional 885,000 shares during the period.

Core Scientific Price Performance

CORZ stock opened at $8.95 on Thursday. The business has a 50-day moving average of $12.32 and a 200-day moving average of $13.24. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The stock has a market capitalization of $2.63 billion, a P/E ratio of -1.65 and a beta of 6.83.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million for the quarter, compared to the consensus estimate of $97.07 million. Equities analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Activity at Core Scientific

In other news, CEO Adam Taylor Sullivan sold 369,712 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the transaction, the chief executive officer now owns 3,758,793 shares in the company, valued at $61,042,798.32. The trade was a 8.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd M. Duchene sold 25,277 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the transaction, the insider now owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 748,282 shares of company stock valued at $10,978,104 in the last 90 days. 32.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CORZ. Compass Point cut their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. HC Wainwright reissued a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday. Roth Capital raised Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Macquarie upped their price objective on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC lowered their price objective on Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Core Scientific has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific 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.