Marshall Wace LLP Purchases 1,042,587 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Marshall Wace LLP increased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 233.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,489,261 shares of the company’s stock after purchasing an additional 1,042,587 shares during the quarter. Marshall Wace LLP’s holdings in Core Scientific were worth $20,924,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Shields & Co. LLC purchased a new position in shares of Core Scientific in the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. bought a new position in Core Scientific in the 4th quarter valued at $34,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Core Scientific during the 4th quarter valued at $42,000. Vestcor Inc purchased a new position in shares of Core Scientific in the 4th quarter worth about $66,000. Finally, US Bancorp DE bought a new position in Core Scientific during the fourth quarter valued at about $99,000.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 25,277 shares of the company’s stock in a transaction 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 directly owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jordan Levy purchased 62,500 shares of the stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the transaction, the director now directly owns 306,887 shares of the company’s stock, valued at approximately $2,458,164.87. This represents a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 530,041 shares of company stock valued at $7,870,352 in the last quarter. Insiders own 1.40% of the company’s stock.

Core Scientific Stock Up 0.6 %

Shares of NASDAQ CORZ opened at $6.63 on Friday. The stock’s 50-day simple moving average is $8.81 and its two-hundred day simple moving average is $12.54. Core Scientific, Inc. has a twelve month low of $2.88 and a twelve month high of $18.63. The firm has a market capitalization of $1.96 billion, a P/E ratio of -1.23 and a beta of 6.80.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. As a group, research analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Compass Point decreased their price target on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research note on Wednesday, March 12th. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a research note on Monday, January 27th. They issued an “outperform” rating and a $22.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, Needham & Company LLC dropped their price target on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Core Scientific has an average rating of “Buy” and a consensus target price 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.