Concurrent Investment Advisors LLC Acquires 81,633 Shares of Core Scientific, Inc. $CORZ

Key Points

• Concurrent Investment Advisors LLC boosted its stake in Core Scientific (NASDAQ: CORZ) by 35.8% in Q4, acquiring 81,633 shares to hold 309,879 shares—about a 0.10% stake valued at roughly $4.51 million.
• Insider Todd M. Duchene sold 10,000 shares at an average price of $19.80 on April 20, and insiders have sold 30,000 shares (~$515,400) in the last quarter, with insiders now owning 1.70% of the company.
• Core Scientific shares recently traded near $21.10 with a market cap of $6.66 billion, a 52‑week range of $7.65–$23.63, and a consensus analyst rating of “Moderate Buy” with an average price target of $25.07.

Concurrent Investment Advisors LLC increased its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 35.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 309,879 shares of the company's stock after acquiring an additional 81,633 shares during the quarter. Concurrent Investment Advisors LLC owned about 0.10% of Core Scientific worth $4,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CORZ. Xponance Inc. raised its holdings in Core Scientific by 2.7% in the 3rd quarter. Xponance Inc. now owns 22,334 shares of the company's stock worth $401,000 after purchasing an additional 595 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Core Scientific by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,029 shares of the company's stock worth $377,000 after purchasing an additional 711 shares during the period. CWA Asset Management Group LLC boosted its stake in shares of Core Scientific by 0.3% during the 4th quarter. CWA Asset Management Group LLC now owns 239,937 shares of the company's stock valued at $3,493,000 after purchasing an additional 756 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in shares of Core Scientific by 5.2% during the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company's stock valued at $279,000 after buying an additional 766 shares during the period. Finally, Allworth Financial LP increased its position in shares of Core Scientific by 206.5% during the third quarter. Allworth Financial LP now owns 1,410 shares of the company's stock valued at $25,000 after buying an additional 950 shares during the period.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the company's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $19.80, for a total value of $198,000.00. Following the transaction, the insider owned 2,000,348 shares in the company, valued at $39,606,890.40. The trade was a 0.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 30,000 shares of company stock valued at $515,400. Insiders own 1.70% of the company's stock.

Core Scientific Stock Performance

Shares of CORZ opened at $21.10 on Tuesday. The stock has a market cap of $6.66 billion, a PE ratio of 18.03 and a beta of 6.34. The firm's 50-day simple moving average is $17.27 and its two-hundred day simple moving average is $17.40. Core Scientific, Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $23.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $79.76 million during the quarter, compared to the consensus estimate of $118.45 million. During the same period last year, the firm posted ($0.69) earnings per share. The company's revenue was down 16.0% compared to the same quarter last year. Equities research analysts predict that Core Scientific, Inc. will post 0.07 EPS for the current year.

Wall Street Analyst Weigh In

CORZ has been the subject of several research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Core Scientific in a report on Monday, April 20th. Keefe, Bruyette & Woods increased their target price on Core Scientific from $19.00 to $25.00 and gave the stock a "moderate buy" rating in a research report on Tuesday, January 27th. Zacks Research upgraded Core Scientific from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 13th. BTIG Research upgraded Core Scientific from a "neutral" rating to a "buy" rating and set a $23.00 price target on the stock in a research report on Tuesday, January 6th. Finally, Cantor Fitzgerald lifted their price target on Core Scientific from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.07.

Core Scientific Company Profile

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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