Pertento Partners LLP Has $7.33 Million Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Pertento Partners LLP lessened its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 69.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 521,738 shares of the company’s stock after selling 1,181,464 shares during the quarter. Core Scientific makes up approximately 0.6% of Pertento Partners LLP’s investment portfolio, making the stock its 23rd largest holding. Pertento Partners LLP owned approximately 0.19% of Core Scientific worth $7,330,000 at the end of the most recent reporting period.

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

Core Scientific Price Performance

CORZ stock opened at $7.48 on Friday. The firm has a 50 day simple moving average of $10.89 and a two-hundred day simple moving average of $13.08. The stock has a market cap of $2.20 billion, a PE ratio of -1.38 and a beta of 6.83. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating 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, research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Cantor Fitzgerald decreased their price objective on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. BTIG Research increased their target price on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Needham & Company LLC reduced their price objective on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Compass Point cut their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Core Scientific currently has an average rating of “Buy” and an average price target of $19.07.

Insider Activity

In other news, CEO Adam Taylor Sullivan sold 369,712 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the completion of the sale, the director now directly owns 195,687 shares in the company, valued at $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. Over the last 90 days, insiders sold 748,282 shares of company stock valued at $10,978,104. 32.00% of the stock is currently owned by company insiders.

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.