US Bancorp DE Invests $99,000 in Core Scientific, Inc. (NASDAQ:CORZ)

US Bancorp DE acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 7,019 shares of the company’s stock, valued at approximately $99,000.

Several other hedge funds also recently made changes to their positions in CORZ. Rush Island Management LP acquired a new position in shares of Core Scientific in the 3rd quarter worth approximately $32,221,000. Taconic Capital Advisors LP boosted its holdings in shares of Core Scientific by 178.7% in the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock worth $32,229,000 after buying an additional 1,742,462 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Core Scientific in the third quarter worth about $18,383,000. Geode Capital Management LLC boosted its holdings in shares of Core Scientific by 26.7% in the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after buying an additional 1,113,285 shares during the period. Finally, Whitefort Capital Management LP boosted its holdings in shares of Core Scientific by 337.1% in the third quarter. Whitefort Capital Management LP now owns 1,147,500 shares of the company’s stock worth $13,609,000 after buying an additional 885,000 shares during the period.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Jordan Levy bought 62,500 shares of Core Scientific stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the purchase, the director now directly owns 306,887 shares of the company’s stock, valued at $2,458,164.87. The trade was a 25.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the completion of the transaction, the director now directly owns 195,687 shares in the company, valued at approximately $2,103,635.25. This represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 748,282 shares of company stock worth $10,978,104 over the last ninety days. 32.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Needham & Company LLC decreased their target price on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Craig Hallum assumed coverage on shares of Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price for the company. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a report on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a report on Tuesday, March 11th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Core Scientific presently has an average rating of “Buy” and an average price target of $19.07.

Core Scientific Stock Up 1.7 %

NASDAQ CORZ opened at $8.81 on Monday. The stock has a market capitalization of $2.59 billion, a PE ratio of -1.63 and a beta of 6.83. The company has a 50 day moving average price of $12.08 and a two-hundred day moving average price of $13.24. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. As a group, equities analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current 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.