Capelight Capital Asset Management LP increased its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ – Free Report) by 1,233.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 600,000 shares of the company’s stock after purchasing an additional 555,000 shares during the quarter. Core Scientific makes up 6.4% of Capelight Capital Asset Management LP’s holdings, making the stock its 2nd biggest position. Capelight Capital Asset Management LP’s holdings in Core Scientific were worth $8,976,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in shares of Core Scientific by 206.5% during the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after acquiring an additional 950 shares during the last quarter. Larson Financial Group LLC lifted its stake in Core Scientific by 936.7% in the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after acquiring an additional 1,686 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Core Scientific by 112.1% during the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after purchasing an additional 1,066 shares in the last quarter. Danske Bank A S purchased a new position in shares of Core Scientific in the 4th quarter valued at $36,000. Finally, State of Wyoming purchased a new position in Core Scientific in the fourth quarter valued at about $66,000.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CORZ. Lucid Cap Mkts raised Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. Wall Street Zen raised shares of Core Scientific to a “sell” rating in a report on Saturday, March 14th. Jefferies Financial Group boosted their price target on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 14th. BTIG Research increased their target price on shares of Core Scientific from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Canaccord Genuity Group set a $30.00 price target on shares of Core Scientific in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Core Scientific presently has an average rating of “Moderate Buy” and an average target price of $29.78.
Insider Transactions at Core Scientific
In other news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction on Monday, June 29th. The stock was sold at an average price of $26.17, for a total value of $261,700.00. Following the completion of the sale, the insider directly owned 2,038,895 shares of the company’s stock, valued at approximately $53,357,882.15. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 90,000 shares of company stock valued at $2,148,400 over the last 90 days. 1.70% of the stock is owned by insiders.
Core Scientific Stock Down 9.6%
Shares of CORZ opened at $21.43 on Friday. The company has a market capitalization of $6.81 billion, a PE ratio of -18.80 and a beta of 5.50. The stock has a fifty day simple moving average of $25.26 and a two-hundred day simple moving average of $19.87. Core Scientific, Inc. has a 52-week low of $12.42 and a 52-week high of $30.46.
Core Scientific (NASDAQ:CORZ – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The firm had revenue of $115.24 million for the quarter, compared to analysts’ expectations of $117.04 million. The business’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, equities analysts anticipate that Core Scientific, Inc. will post 0.08 earnings per share for the current fiscal year.
About Core Scientific
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.
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