216,445 Core Scientific, Inc. $CORZ Shares Sold by Moody Aldrich Partners LLC

Key Points

• Moody Aldrich Partners cut its Core Scientific stake by 69.2%, selling 216,445 shares in the third quarter and retaining 96,413 shares valued at approximately $1.54 million.
• Core Scientific shares opened at $14.43, below their 50-day and 200-day moving averages, while the company reported a quarterly loss of $3.32 per share despite revenue of $164.2 million.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $31.78; several firms recently raised their targets, while insiders have made some purchases.

Moody Aldrich Partners LLC reduced its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 69.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,413 shares of the company's stock after selling 216,445 shares during the period. Moody Aldrich Partners LLC's holdings in Core Scientific were worth $1,541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CORZ. Bank of America Corp DE boosted its position in Core Scientific by 412.5% during the first quarter. Bank of America Corp DE now owns 4,806,363 shares of the company's stock worth $71,903,000 after purchasing an additional 3,868,535 shares during the period. California State Teachers Retirement System raised its position in shares of Core Scientific by 22.1% in the first quarter. California State Teachers Retirement System now owns 288,936 shares of the company's stock valued at $4,322,000 after purchasing an additional 52,260 shares during the period. Man Group plc acquired a new stake in shares of Core Scientific in the second quarter worth $1,986,000. Wellington Management Group LLP boosted its holdings in shares of Core Scientific by 45.0% during the 2nd quarter. Wellington Management Group LLP now owns 1,123,721 shares of the company's stock worth $28,756,000 after buying an additional 348,645 shares during the period. Finally, Union Square Park Capital Management LLC bought a new stake in shares of Core Scientific during the 1st quarter worth $1,496,000.

Core Scientific Stock Performance

NASDAQ:CORZ opened at $14.43 on Friday. The firm's 50-day moving average is $16.29 and its 200-day moving average is $19.65. Core Scientific, Inc. has a 52-week low of $12.31 and a 52-week high of $30.46.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($3.26). The company had revenue of $164.20 million during the quarter, compared to analyst estimates of $144.83 million. Sell-side analysts forecast that Core Scientific, Inc. will post -1.36 earnings per share for the current year.

Analysts Set New Price Targets

CORZ has been the topic of a number of research analyst reports. B. Riley Financial raised their target price on shares of Core Scientific from $33.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Needham & Company LLC raised their price target on Core Scientific from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Canaccord Genuity Group reiterated a "buy" rating and issued a $36.00 price objective on shares of Core Scientific in a research note on Thursday, October 15th. Rothschild & Co Redburn began coverage on Core Scientific in a research report on Monday, September 21st. They set a "neutral" rating and a $16.00 price objective for the company. Finally, Citigroup restated a "market outperform" rating on shares of Core Scientific in a research note on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Core Scientific has a consensus rating of "Moderate Buy" and a consensus target price of $31.78.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Elizabeth Crain bought 6,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average price of $18.33 per share, with a total value of $109,980.00. Following the completion of the purchase, the director directly owned 71,348 shares in the company, valued at $1,307,808.84. The trade was a 9.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric Weiss purchased 6,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average cost of $16.33 per share, with a total value of $97,980.00. Following the transaction, the director directly owned 265,262 shares of the company's stock, valued at approximately $4,331,728.46. This represents a 2.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 19,000 shares of company stock valued at $342,290 and have sold 100,000 shares valued at $1,723,100. Insiders own 1.70% of the company's stock.

Core Scientific Profile

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.

Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.

Want to see what other hedge funds are holding CORZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Core Scientific, Inc. (NASDAQ:CORZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.