Core Scientific, Inc. $CORZ Position Lessened by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. decreased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 73.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,225,169 shares of the company's stock after selling 3,413,983 shares during the period. Alyeska Investment Group L.P. owned 0.38% of Core Scientific worth $31,352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Core Scientific in the second quarter worth $719,649,000. Situational Awareness LP lifted its position in shares of Core Scientific by 42.5% in the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company's stock worth $418,694,000 after buying an additional 8,575,944 shares during the last quarter. Value Aligned Research Advisors LLC acquired a new stake in shares of Core Scientific in the fourth quarter worth about $117,786,000. Vanguard Group Inc. boosted its stake in shares of Core Scientific by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company's stock worth $494,462,000 after acquiring an additional 5,359,710 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of Core Scientific during the 1st quarter worth about $59,802,000.

Core Scientific Price Performance

Shares of CORZ stock opened at $16.51 on Monday. Core Scientific, Inc. has a 12 month low of $13.14 and a 12 month high of $30.46. The firm has a market cap of $5.31 billion, a PE ratio of -3.74 and a beta of 5.59. The stock has a 50 day moving average of $21.85 and a 200-day moving average of $21.03.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The firm had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. As a group, equities analysts predict that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wolfe Research reaffirmed a "buy" rating on shares of Core Scientific in a research report on Wednesday, July 29th. Lucid Cap Mkts raised shares of Core Scientific to a "strong-buy" rating in a research report on Friday, June 12th. Freedom Capital upgraded shares of Core Scientific from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $32.00 price objective on shares of Core Scientific in a report on Wednesday, June 3rd. Finally, Loop Capital set a $40.00 target price on shares of Core Scientific in a research note on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.18.

Insider Buying and Selling at Core Scientific

In related news, Director Elizabeth Crain purchased 6,000 shares of Core Scientific stock in a transaction on Thursday, August 20th. The stock was purchased at an average cost of $18.33 per share, with a total value of $109,980.00. Following the acquisition, the director directly owned 71,348 shares in the company, valued at approximately $1,307,808.84. This trade represents a 9.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Todd M. Duchene sold 10,000 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $17.45, for a total transaction of $174,500.00. Following the completion of the sale, the insider owned 1,937,896 shares in the company, valued at $33,816,285.20. This represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 100,000 shares of company stock valued at $2,360,300 in the last ninety days. Company insiders own 1.70% of the company's stock.

Core Scientific 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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