Boothbay Fund Management LLC Purchases 645,165 Shares of Core Scientific, Inc. $CORZ

Boothbay Fund Management LLC increased its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 1,596.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 685,570 shares of the company’s stock after acquiring an additional 645,165 shares during the period. Boothbay Fund Management LLC’s holdings in Core Scientific were worth $12,299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CORZ. Vanguard Group Inc. grew its stake in shares of Core Scientific by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 28,600,610 shares of the company’s stock valued at $513,095,000 after purchasing an additional 1,351,395 shares during the period. Situational Awareness LP raised its holdings in shares of Core Scientific by 76.8% in the 2nd quarter. Situational Awareness LP now owns 7,994,038 shares of the company’s stock worth $136,458,000 after buying an additional 3,472,460 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Core Scientific by 26.2% during the 2nd quarter. Geode Capital Management LLC now owns 7,371,211 shares of the company’s stock worth $125,842,000 after buying an additional 1,530,466 shares during the period. ORG Wealth Partners LLC boosted its stake in Core Scientific by 1.8% in the 3rd quarter. ORG Wealth Partners LLC now owns 7,290,481 shares of the company’s stock valued at $130,791,000 after buying an additional 128,284 shares in the last quarter. Finally, State Street Corp grew its position in Core Scientific by 23.2% in the second quarter. State Street Corp now owns 6,517,898 shares of the company’s stock valued at $111,261,000 after acquiring an additional 1,225,351 shares during the period.

Analysts Set New Price Targets

CORZ has been the topic of several analyst reports. Needham & Company LLC raised shares of Core Scientific from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, March 3rd. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Core Scientific in a report on Tuesday, March 3rd. BTIG Research raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, January 6th. LADENBURG THALM/SH SH dropped their price objective on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Citizens Jmp upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.84.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $16.49 on Friday. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $23.63. The firm has a market capitalization of $5.20 billion, a P/E ratio of 14.09 and a beta of 6.87. The company’s 50 day simple moving average is $17.38 and its 200 day simple moving average is $17.05.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Monday, March 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business posted ($0.69) EPS. Core Scientific’s quarterly revenue was down 16.0% on a year-over-year basis. Sell-side analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

About Core Scientific

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.