Clearline Capital LP Has $68.28 Million Holdings in Core Scientific, Inc. $CORZ

Clearline Capital LP boosted its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 274.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,689,443 shares of the company’s stock after acquiring an additional 3,436,127 shares during the quarter. Core Scientific accounts for 3.4% of Clearline Capital LP’s portfolio, making the stock its 2nd biggest holding. Clearline Capital LP owned 1.51% of Core Scientific worth $68,278,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Core Scientific by 18.7% during the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after buying an additional 5,359,710 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Core Scientific during the 4th quarter worth $1,252,000. Kintayl Capital LP bought a new stake in shares of Core Scientific during the 3rd quarter valued at $10,227,000. Nations Financial Group Inc. IA ADV bought a new stake in shares of Core Scientific during the 4th quarter valued at $2,980,000. Finally, Trivest Advisors Ltd purchased a new stake in shares of Core Scientific in the 3rd quarter worth $6,557,000.

Wall Street Analyst Weigh In

CORZ has been the topic of several analyst reports. LADENBURG THALM/SH SH lowered their target price on Core Scientific from $24.50 to $23.75 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a research note on Monday, April 20th. Jefferies Financial Group lifted their price target on shares of Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Canaccord Genuity Group set a $30.00 price objective on shares of Core Scientific in a research note on Friday, May 8th. Finally, Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Core Scientific has an average rating of “Moderate Buy” and an average price target of $29.49.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $28.19, for a total transaction of $281,900.00. Following the completion of the transaction, the insider owned 2,058,895 shares in the company, valued at $58,040,250.05. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 80,000 shares of company stock worth $1,746,300 over the last quarter. 1.70% of the stock is owned by corporate insiders.

Core Scientific Stock Up 1.1%

Shares of Core Scientific stock opened at $28.38 on Thursday. Core Scientific, Inc. has a twelve month low of $10.93 and a twelve month high of $30.46. The business has a 50-day moving average price of $23.49 and a 200-day moving average price of $19.10. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of -24.89 and a beta of 5.49.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The business had revenue of $115.24 million during the quarter, compared to analyst estimates of $117.04 million. During the same period in the previous year, the company earned $1.25 EPS. Core Scientific’s quarterly revenue was up 44.9% compared to the same quarter last year. On average, equities analysts expect that Core Scientific, Inc. will post 0.08 EPS for the current fiscal year.

Core Scientific Company 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.