Blair William & Co. IL Boosts Stock Position in Core Scientific, Inc. $CORZ

Key Points

• Blair William & Co. IL increased its stake in Core Scientific, Inc. (NASDAQ: CORZ) by 8.6%, owning approximately 304,928 shares valued at $5.2 million after purchasing 24,053 shares in the last quarter.
• Analysts have mixed sentiments on COREZ, with one rating as a Strong Buy, seven as Buy, and a consensus target price of $18.71.
• Core Scientific reported a 44.3% year-over-year revenue decline in its latest quarterly earnings, generating $78.63 million against analysts' expectations of $82.09 million.

Blair William & Co. IL increased its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,928 shares of the company's stock after purchasing an additional 24,053 shares during the quarter. Blair William & Co. IL owned approximately 0.10% of Core Scientific worth $5,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its position in Core Scientific by 229.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 37,501 shares of the company's stock worth $272,000 after purchasing an additional 26,135 shares in the last quarter. Heritage Oak Wealth Advisors LLC increased its position in Core Scientific by 2.4% during the 2nd quarter. Heritage Oak Wealth Advisors LLC now owns 753,846 shares of the company's stock worth $12,868,000 after purchasing an additional 17,709 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in Core Scientific during the 2nd quarter worth about $243,000. Summit Trail Advisors LLC purchased a new stake in Core Scientific during the 1st quarter worth about $357,000. Finally, Anson Funds Management LP purchased a new stake in Core Scientific during the 1st quarter worth about $689,000.

Wall Street Analysts Forecast Growth

Several analysts have commented on CORZ shares. Roth Mkm restated a "buy" rating and issued a $20.00 price target on shares of Core Scientific in a report on Thursday, June 26th. Compass Point started coverage on Core Scientific in a report on Monday, September 15th. They issued a "buy" rating for the company. Oppenheimer restated a "market perform" rating on shares of Core Scientific in a report on Monday, July 7th. Macquarie lifted their price target on Core Scientific from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, September 29th. Finally, Arete Research upgraded Core Scientific to a "strong-buy" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Core Scientific currently has a consensus rating of "Hold" and a consensus target price of $18.71.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $18.52 on Monday. Core Scientific, Inc. has a 1 year low of $6.20 and a 1 year high of $19.31. The stock has a market capitalization of $5.69 billion, a P/E ratio of -33.07 and a beta of 6.58. The stock has a 50-day simple moving average of $15.47 and a 200-day simple moving average of $12.54.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.03. The firm had revenue of $78.63 million for the quarter, compared to analysts' expectations of $82.09 million. The company's quarterly revenue was down 44.3% on a year-over-year basis. Analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Core Scientific Company 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.

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