Highland Peak Capital LLC Has $5.38 Million Position in Core Scientific, Inc. (NASDAQ:CORZ)

Highland Peak Capital LLC lowered its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 7.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 382,608 shares of the company’s stock after selling 30,976 shares during the period. Core Scientific makes up 2.9% of Highland Peak Capital LLC’s investment portfolio, making the stock its 13th biggest holding. Highland Peak Capital LLC’s holdings in Core Scientific were worth $5,376,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. CWA Asset Management Group LLC bought a new stake in Core Scientific during the third quarter worth about $890,000. Victory Capital Management Inc. grew its stake in Core Scientific by 41.5% during the third quarter. Victory Capital Management Inc. now owns 26,633 shares of the company’s stock worth $316,000 after buying an additional 7,814 shares during the last quarter. Regal Partners Ltd grew its stake in Core Scientific by 71.5% during the third quarter. Regal Partners Ltd now owns 996,551 shares of the company’s stock worth $11,819,000 after buying an additional 415,363 shares during the last quarter. Natixis Advisors LLC bought a new stake in Core Scientific during the third quarter worth about $252,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Core Scientific in the third quarter valued at approximately $315,000.

Insider Buying and Selling at Core Scientific

In related news, CEO Adam Taylor Sullivan sold 369,712 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the completion of the transaction, the chief executive officer now directly owns 3,758,793 shares in the company, valued at $61,042,798.32. The trade was a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the completion of the transaction, the insider now owns 2,051,649 shares of the company’s stock, valued at approximately $29,215,481.76. This trade represents a 5.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 748,282 shares of company stock worth $10,978,104 over the last quarter. Insiders own 32.00% of the company’s stock.

Core Scientific Trading Down 0.9 %

Core Scientific stock opened at $7.78 on Monday. The firm has a 50 day moving average of $12.65 and a 200 day moving average of $13.30. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -1.44 and a beta of 6.83. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. On average, analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

CORZ has been the subject of a number of research reports. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Roth Mkm initiated coverage on shares of Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 price target for the company. BTIG Research lifted their target price on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Cantor Fitzgerald lowered their target price on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, Macquarie lifted their target price on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $19.07.

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.