Core Scientific, Inc. $CORZ Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. cut its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 21.5% during the second quarter, HoldingsChannel.com reports. The fund owned 25,283 shares of the company’s stock after selling 6,911 shares during the period. Phoenix Financial Ltd.’s holdings in Core Scientific were worth $431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mutual of America Capital Management LLC boosted its position in Core Scientific by 128.8% during the second quarter. Mutual of America Capital Management LLC now owns 602,427 shares of the company’s stock worth $10,283,000 after acquiring an additional 339,161 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in Core Scientific during the second quarter worth about $10,367,000. Bernard Wealth Management Corp. acquired a new position in Core Scientific during the second quarter worth about $51,000. Shikiar Asset Management Inc. boosted its holdings in Core Scientific by 20.3% in the 2nd quarter. Shikiar Asset Management Inc. now owns 101,550 shares of the company’s stock valued at $1,733,000 after purchasing an additional 17,150 shares during the last quarter. Finally, IFP Advisors Inc acquired a new position in Core Scientific in the 2nd quarter valued at about $86,000.

Core Scientific Stock Performance

Shares of CORZ stock opened at $17.80 on Thursday. The firm’s 50 day moving average price is $16.24 and its 200-day moving average price is $13.10. Core Scientific, Inc. has a one year low of $6.20 and a one year high of $20.36. The firm has a market cap of $5.47 billion, a P/E ratio of -31.79 and a beta of 6.58.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $78.63 million during the quarter, compared to analyst estimates of $82.09 million. The business’s quarterly revenue was down 44.3% on a year-over-year basis. As a group, research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CORZ. B. Riley upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday. Compass Point began coverage on shares of Core Scientific in a report on Monday, September 15th. They issued a “buy” rating on the stock. Citizens Jmp lowered shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a report on Monday, July 14th. Barclays lowered shares of Core Scientific to an “underweight” rating in a report on Tuesday, July 8th. Finally, Needham & Company LLC lowered shares of Core Scientific from a “moderate buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.06.

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.