ParaFi Capital LP Buys 940,111 Shares of Core Scientific, Inc. $CORZ

ParaFi Capital LP lifted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 523.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,119,724 shares of the company’s stock after purchasing an additional 940,111 shares during the quarter. Core Scientific comprises 4.5% of ParaFi Capital LP’s portfolio, making the stock its 7th largest position. ParaFi Capital LP’s holdings in Core Scientific were worth $16,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CORZ. Allworth Financial LP grew its holdings in Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after buying an additional 950 shares in the last quarter. Larson Financial Group LLC grew its holdings in Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after buying an additional 1,686 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after buying an additional 1,066 shares in the last quarter. Danske Bank A S bought a new position in Core Scientific in the 4th quarter worth approximately $36,000. Finally, State of Wyoming bought a new position in Core Scientific in the 4th quarter worth approximately $66,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CORZ shares. Needham & Company LLC increased their price objective on Core Scientific from $23.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Canaccord Genuity Group set a $30.00 price target on Core Scientific in a research note on Friday, May 8th. LADENBURG THALM/SH SH decreased their price target on Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a research note on Monday, April 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Core Scientific in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.49.

Core Scientific Price Performance

CORZ opened at $27.60 on Monday. The firm has a market cap of $8.77 billion, a PE ratio of -24.21 and a beta of 5.49. The business has a fifty day simple moving average of $22.77 and a 200-day simple moving average of $18.84. Core Scientific, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $30.46.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The firm had revenue of $115.24 million during the quarter, compared to analyst estimates of $117.04 million. The firm’s quarterly revenue was up 44.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. On average, equities research analysts anticipate that Core Scientific, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $26.85, for a total value of $268,500.00. Following the completion of the sale, the insider owned 2,068,895 shares of the company’s stock, valued at $55,549,830.75. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders sold 70,000 shares of company stock worth $1,464,400. Company insiders own 1.70% of the company’s stock.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.