EntryPoint Capital LLC Invests $326,000 in Core Scientific, Inc. (NASDAQ:CORZ)

EntryPoint Capital LLC bought a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,214 shares of the company’s stock, valued at approximately $326,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Xponance Inc. boosted its stake in shares of Core Scientific by 7.9% during the 4th quarter. Xponance Inc. now owns 12,800 shares of the company’s stock worth $180,000 after buying an additional 937 shares during the last quarter. Wellington Shields & Co. LLC acquired a new position in Core Scientific during the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. bought a new position in Core Scientific in the fourth quarter valued at approximately $34,000. Joel Isaacson & Co. LLC increased its position in shares of Core Scientific by 4.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock worth $815,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Core Scientific during the 4th quarter worth approximately $42,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods started coverage on shares of Core Scientific in a research note on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price for the company. Craig Hallum began coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price objective for the company. Cantor Fitzgerald dropped their target price 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. Needham & Company LLC reduced their price target on Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Wednesday, March 12th. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $19.07.

Insider Buying and Selling

In other news, Director Jordan Levy purchased 62,500 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $8.01 per share, with a total value of $500,625.00. Following the acquisition, 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the completion of the transaction, the chief executive officer now directly owns 4,128,505 shares in the company, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 748,282 shares of company stock valued at $10,978,104 over the last 90 days. 32.00% of the stock is owned by corporate insiders.

Core Scientific Stock Performance

CORZ opened at $7.88 on Friday. The stock has a fifty day moving average of $11.04 and a 200-day moving average of $13.10. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The company has a market capitalization of $2.32 billion, a P/E ratio of -1.46 and a beta of 6.83.

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

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.