Core Scientific, Inc. (NASDAQ:CORZ) Shares Sold by ORG Wealth Partners LLC

ORG Wealth Partners LLC reduced its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,711,823 shares of the company's stock after selling 274,828 shares during the period. Core Scientific accounts for approximately 20.3% of ORG Wealth Partners LLC's investment portfolio, making the stock its biggest position. ORG Wealth Partners LLC owned approximately 2.95% of Core Scientific worth $63,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CORZ. Wellington Shields & Co. LLC acquired a new position in shares of Core Scientific in the fourth quarter valued at about $26,000. First Horizon Advisors Inc. acquired a new position in shares of Core Scientific in the fourth quarter valued at about $34,000. GAMMA Investing LLC grew its stake in shares of Core Scientific by 1,722.3% in the first quarter. GAMMA Investing LLC now owns 8,565 shares of the company's stock valued at $62,000 after acquiring an additional 8,095 shares in the last quarter. Vestcor Inc acquired a new position in shares of Core Scientific in the fourth quarter valued at about $66,000. Finally, Merit Financial Group LLC acquired a new position in shares of Core Scientific in the first quarter valued at about $74,000.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 50,000 shares of Core Scientific stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the sale, the insider now owns 2,050,102 shares in the company, valued at $25,236,755.62. The trade was a 2.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yadin Rozov acquired 110,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was bought at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the purchase, the director now directly owns 475,687 shares in the company, valued at $5,170,717.69. This represents a 30.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company's stock.

Core Scientific Stock Down 0.3%

Core Scientific stock traded down $0.04 during mid-day trading on Friday, hitting $11.86. 13,504,853 shares of the stock were exchanged, compared to its average volume of 12,833,331. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month high of $18.63. The firm's fifty day simple moving average is $9.87 and its two-hundred day simple moving average is $11.22. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of -2.36 and a beta of 6.30.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to the consensus estimate of $92.04 million. During the same quarter in the previous year, the business posted $0.78 EPS. The firm's revenue for the quarter was down 55.6% compared to the same quarter last year. As a group, analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup started coverage on shares of Core Scientific in a research note on Thursday, May 22nd. They issued an "outperform" rating on the stock. Compass Point reduced their price objective on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. HC Wainwright reiterated a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Cantor Fitzgerald reduced their price objective on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research note on Friday, May 9th. Eighteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $18.44.

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.