Core Scientific, Inc. $CORZ Shares Sold by ORG Wealth Partners LLC

Key Points

• ORG Wealth Partners LLC has reduced its stake in Core Scientific, Inc. by 17.8%, now holding approximately 7.16 million shares, which accounts for about 33.4% of its portfolio.
• Core Scientific reported an earnings per share (EPS) of ($0.04) for the last quarter, beating analyst expectations, although its revenue of $78.63 million fell short of forecasts and was down 44.3% year-over-year.
• The stock has received mixed ratings from analysts, with a consensus rating of "Hold" and a price target averaging $18.53.

ORG Wealth Partners LLC lessened its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,162,197 shares of the company's stock after selling 1,549,626 shares during the quarter. Core Scientific accounts for about 33.4% of ORG Wealth Partners LLC's portfolio, making the stock its largest holding. ORG Wealth Partners LLC owned about 2.40% of Core Scientific worth $122,261,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming acquired a new position in shares of Core Scientific in the 1st quarter valued at about $34,000. Emerald Mutual Fund Advisers Trust acquired a new position in Core Scientific in the 1st quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Core Scientific in the 1st quarter worth about $50,000. CWM LLC raised its holdings in Core Scientific by 403.9% in the 1st quarter. CWM LLC now owns 8,092 shares of the company's stock worth $59,000 after purchasing an additional 6,486 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Core Scientific by 1,722.3% in the 1st quarter. GAMMA Investing LLC now owns 8,565 shares of the company's stock worth $62,000 after purchasing an additional 8,095 shares during the period.

Core Scientific Trading Up 0.1%

NASDAQ:CORZ opened at $16.85 on Friday. The stock has a 50 day moving average of $14.58 and a two-hundred day moving average of $11.84. The firm has a market cap of $5.15 billion, a P/E ratio of -30.09 and a beta of 6.59. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month high of $18.63.

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

Wall Street Analysts Forecast Growth

CORZ has been the subject of a number of analyst reports. Citigroup cut Core Scientific from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Arete Research raised Core Scientific to a "strong-buy" rating in a report on Tuesday, July 22nd. BTIG Research cut Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 price target for the company. in a report on Monday, July 7th. Roth Mkm reiterated a "buy" rating and set a $20.00 price objective on shares of Core Scientific in a research note on Thursday, June 26th. Finally, Citizens Jmp lowered Core Scientific from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $18.53.

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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