Main Management ETF Advisors LLC Has $1.16 Million Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Main Management ETF Advisors LLC trimmed its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,592 shares of the company’s stock after selling 7,424 shares during the period. Main Management ETF Advisors LLC’s holdings in Core Scientific were worth $1,160,000 as of its most recent SEC filing.

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

Insider Activity

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now owns 195,687 shares of the company’s stock, valued at $2,103,635.25. The trade was a 40.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jordan Levy acquired 62,500 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the purchase, the director now directly owns 306,887 shares of the company’s stock, valued at approximately $2,458,164.87. This trade represents a 25.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Compass Point lowered their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Needham & Company LLC reduced their target price on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Craig Hallum assumed coverage on Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Friday, May 9th. Finally, Cantor Fitzgerald lowered their price target on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Core Scientific presently has an average rating of “Buy” and a consensus price target of $19.07.

Core Scientific Stock Up 3.6%

CORZ stock opened at $10.24 on Wednesday. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -1.89 and a beta of 6.66. Core Scientific, Inc. has a twelve month low of $3.46 and a twelve month high of $18.63. The business has a 50 day moving average price of $7.93 and a two-hundred day moving average price of $12.04.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to the consensus estimate of $92.04 million. During the same period last year, the company posted $0.78 earnings per share. The business’s revenue was down 55.6% compared to the same quarter last year. On average, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

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.