Divisadero Street Capital Management LP Makes New $93,000 Investment in Core Scientific, Inc. (NASDAQ:CORZ)

Divisadero Street Capital Management LP purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,000 shares of the company’s stock, valued at approximately $93,000.

A number of other institutional investors and hedge funds have also modified their holdings of CORZ. Barings LLC acquired a new position in shares of Core Scientific in the 1st quarter valued at $36,515,000. Vanguard Group Inc. acquired a new position in Core Scientific in the first quarter valued at about $21,973,000. Kensico Capital Management Corp bought a new position in Core Scientific during the first quarter worth about $18,513,000. Van ECK Associates Corp acquired a new position in shares of Core Scientific during the 2nd quarter worth about $12,239,000. Finally, Vident Advisory LLC acquired a new position in shares of Core Scientific during the 1st quarter worth about $4,047,000.

Insider Activity

In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $82,356.32. Following the sale, the chief financial officer now owns 122,217 shares in the company, valued at $1,150,061.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jarrod M. Patten acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average price of $9.70 per share, with a total value of $38,800.00. Following the transaction, the director now directly owns 279,239 shares in the company, valued at approximately $2,708,618.30. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Denise Marie Brucia Sterling sold 8,752 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $82,356.32. Following the transaction, the chief financial officer now owns 122,217 shares in the company, valued at $1,150,061.97. The disclosure for this sale can be found here. In the last quarter, insiders purchased 12,761 shares of company stock worth $127,080 and sold 27,655 shares worth $260,087. 32.00% of the stock is owned by corporate insiders.

Core Scientific Trading Down 3.5 %

CORZ stock opened at $11.61 on Friday. The stock has a 50-day moving average price of $10.15 and a two-hundred day moving average price of $6.97. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $12.63.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The company had revenue of $141.10 million during the quarter, compared to analyst estimates of $128.58 million. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that Core Scientific, Inc. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CORZ shares. LADENBURG THALM/SH SH reissued a “buy” rating and set a $14.50 price objective on shares of Core Scientific in a research note on Tuesday, July 2nd. Needham & Company LLC assumed coverage on shares of Core Scientific in a research report on Wednesday, September 4th. They set a “buy” rating and a $16.00 price target on the stock. B. Riley raised shares of Core Scientific from a “neutral” rating to a “buy” rating and boosted their price target for the company from $0.50 to $13.00 in a report on Wednesday, July 17th. HC Wainwright raised their price objective on Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $17.00 target price on shares of Core Scientific in a report on Tuesday, September 10th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target 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.