Aurelius Capital Management LP Has $4.88 Million Stock Holdings in Core Scientific, Inc. $CORZ

Key Points

• Aurelius Capital Management LP reduced its stake in Core Scientific, Inc. by 47.2%, selling 602,525 shares and retaining 674,452 shares, which now represent about 51.6% of its holdings.
• Core Scientific reported earnings that exceeded consensus estimates with an EPS of ($0.04) for the quarter, although revenue declined 44.3% year-over-year to $78.63 million.
• Analysts express a mixed outlook on Core Scientific, with an average rating of "Hold", while the consensus target price stands at $18.32.

Aurelius Capital Management LP reduced its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 47.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 674,452 shares of the company's stock after selling 602,525 shares during the period. Core Scientific accounts for about 51.6% of Aurelius Capital Management LP's investment portfolio, making the stock its largest position. Aurelius Capital Management LP owned about 0.23% of Core Scientific worth $4,883,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Core Scientific during the 1st quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Core Scientific during the 1st quarter worth about $50,000. CWM LLC lifted its holdings in shares of Core Scientific by 403.9% during the 1st quarter. CWM LLC now owns 8,092 shares of the company's stock worth $59,000 after acquiring an additional 6,486 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Core Scientific by 1,722.3% during the 1st quarter. GAMMA Investing LLC now owns 8,565 shares of the company's stock worth $62,000 after acquiring an additional 8,095 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of Core Scientific by 23.7% during the 1st quarter. US Bancorp DE now owns 8,682 shares of the company's stock worth $63,000 after acquiring an additional 1,663 shares during the period.

Core Scientific Stock Performance

Shares of CORZ stock traded up $0.27 during mid-day trading on Thursday, reaching $14.47. 7,726,488 shares of the company were exchanged, compared to its average volume of 16,505,746. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $18.63. The company has a market capitalization of $4.42 billion, a P/E ratio of -25.82 and a beta of 6.60. The business's 50 day simple moving average is $14.10 and its 200 day simple moving average is $11.11.

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

Insider Buying and Selling at Core Scientific

In other news, insider Todd M. Duchene sold 7,759 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $12.39, for a total transaction of $96,134.01. Following the completion of the sale, the insider owned 2,049,689 shares of the company's stock, valued at approximately $25,395,646.71. This trade represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 117,759 shares of company stock worth $1,391,434 over the last three months. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CORZ has been the topic of several recent analyst reports. B. Riley lowered shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Citizens Jmp lowered shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Monday, July 14th. Needham & Company LLC lowered shares of Core Scientific from a "moderate buy" rating to a "hold" rating and set a $18.00 price target on the stock. in a report on Thursday, July 10th. 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. Finally, Roth Capital cut their price target on shares of Core Scientific from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Core Scientific presently has an average rating of "Hold" and an average target price of $18.32.

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.