MAI Capital Management Has $1.11 Million Position in Core Scientific, Inc. $CORZ

MAI Capital Management cut its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 16.5% in the second quarter, Holdings Channel.com reports. The fund owned 64,874 shares of the company’s stock after selling 12,859 shares during the quarter. MAI Capital Management’s holdings in Core Scientific were worth $1,107,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Core Scientific by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 20,578,100 shares of the company’s stock valued at $148,985,000 after purchasing an additional 1,199,448 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Core Scientific by 26.2% in the second quarter. Geode Capital Management LLC now owns 7,371,211 shares of the company’s stock worth $125,842,000 after purchasing an additional 1,530,466 shares in the last quarter. Fred Alger Management LLC increased its position in Core Scientific by 46.7% during the first quarter. Fred Alger Management LLC now owns 6,473,552 shares of the company’s stock worth $46,869,000 after buying an additional 2,059,985 shares during the last quarter. Clearline Capital LP raised its holdings in Core Scientific by 157.8% during the first quarter. Clearline Capital LP now owns 5,403,963 shares of the company’s stock valued at $39,125,000 after buying an additional 3,308,100 shares in the last quarter. Finally, Situational Awareness LP acquired a new stake in shares of Core Scientific in the first quarter worth about $32,736,000.

Insiders Place Their Bets

In other Core Scientific news, Director Eric Stanton Weiss purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average price of $21.50 per share, with a total value of $107,500.00. Following the completion of the transaction, the director directly owned 226,687 shares of the company’s stock, valued at approximately $4,873,770.50. This trade represents a 2.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a research report on Wednesday, October 8th. HC Wainwright raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, October 28th. 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 research note on Wednesday, October 22nd. Jefferies Financial Group set a $24.00 target price on shares of Core Scientific and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Finally, Craig Hallum set a $27.00 price target on shares of Core Scientific in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.39.

Core Scientific Trading Up 6.9%

Shares of NASDAQ CORZ opened at $15.75 on Tuesday. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 105.01 and a beta of 6.59. Core Scientific, Inc. has a one year low of $6.20 and a one year high of $23.63. The business has a fifty day simple moving average of $18.07 and a 200 day simple moving average of $14.96.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.39. The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $107.18 million. On average, research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

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.