Guggenheim Capital LLC Takes Position in Core Scientific, Inc. (NASDAQ:CORZ)

Guggenheim Capital LLC bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,675 shares of the company’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CORZ. FMR LLC raised its stake in shares of Core Scientific by 2,937.7% in the fourth quarter. FMR LLC now owns 7,436,229 shares of the company’s stock valued at $104,479,000 after acquiring an additional 7,191,428 shares during the period. Vanguard Group Inc. raised its stake in shares of Core Scientific by 54.3% in the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock valued at $272,270,000 after acquiring an additional 6,819,406 shares during the period. Helix Partners Management LP purchased a new stake in shares of Core Scientific in the fourth quarter valued at $86,498,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Core Scientific in the fourth quarter valued at $25,752,000. Finally, Aurelius Capital Management LP bought a new position in shares of Core Scientific in the fourth quarter worth about $17,942,000.

Core Scientific Stock Down 0.8 %

Shares of Core Scientific stock opened at $8.24 on Tuesday. The firm has a market capitalization of $2.43 billion, a P/E ratio of -1.52 and a beta of 6.80. The company has a 50 day moving average price of $8.22 and a 200 day moving average price of $12.34. Core Scientific, Inc. has a 52 week low of $2.88 and a 52 week high of $18.63.

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

Insiders Place Their Bets

In other news, Director Jordan Levy acquired 62,500 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the transaction, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. The trade was a 25.57 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd A. Becker sold 134,250 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the sale, the director now directly owns 195,687 shares in the company, valued at approximately $2,103,635.25. The trade was a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CORZ. Craig Hallum began coverage on shares of Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price target on the stock. Needham & Company LLC cut their price target on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald cut their price target on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Wednesday, March 12th. Finally, HC Wainwright restated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, March 11th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.