Core Scientific, Inc. (NASDAQ:CORZ) Stock Holdings Raised by Deuterium Capital Management LLC

Key Points

• Deuterium Capital Management LLC significantly increased its holdings in Core Scientific, Inc. by 117.6%, owning 415,000 shares, with this stock representing 6.7% of its portfolio.
• Core Scientific reported a loss of ($0.10) EPS for the last quarter, surpassing analysts' expectations, but its revenue fell 55.6% year-over-year to $79.53 million.
• Brokerages have varied ratings for Core Scientific, with a consensus of "Hold" and an average price target of $18.32.

Deuterium Capital Management LLC increased its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 117.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 415,000 shares of the company's stock after purchasing an additional 224,277 shares during the quarter. Core Scientific accounts for 6.7% of Deuterium Capital Management LLC's portfolio, making the stock its 6th biggest holding. Deuterium Capital Management LLC owned about 0.14% of Core Scientific worth $3,005,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CORZ. FMR LLC raised its position in shares of Core Scientific by 2,937.7% during the 4th quarter. FMR LLC now owns 7,436,229 shares of the company's stock valued at $104,479,000 after purchasing an additional 7,191,428 shares during the period. Vanguard Group Inc. raised its position in shares of Core Scientific by 54.3% during the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock valued at $272,270,000 after purchasing an additional 6,819,406 shares during the period. Helix Partners Management LP bought a new stake in shares of Core Scientific during the 4th quarter valued at $86,498,000. Driehaus Capital Management LLC raised its position in shares of Core Scientific by 112.1% during the 4th quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company's stock valued at $144,212,000 after purchasing an additional 5,424,901 shares during the period. Finally, Fred Alger Management LLC bought a new stake in Core Scientific in the 4th quarter valued at $62,011,000.

Core Scientific Trading Down 0.1%

CORZ opened at $13.74 on Tuesday. The stock has a market cap of $4.09 billion, a PE ratio of -2.73 and a beta of 6.71. Core Scientific, Inc. has a 1 year low of $6.20 and a 1 year high of $18.63. The stock's 50 day simple moving average is $13.05 and its 200-day simple moving average is $11.02.

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

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 7,759 shares of Core Scientific stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $12.39, for a total value of $96,134.01. Following the completion of the transaction, the insider owned 2,049,689 shares of the company's stock, valued at $25,395,646.71. This trade represents a 0.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Yadin Rozov bought 110,000 shares of Core Scientific stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the purchase, the director directly owned 475,687 shares in the company, valued at $5,170,717.69. This trade represents a 30.08% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 117,759 shares of company stock worth $1,391,434. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CORZ. JMP Securities reiterated a "market perform" rating and issued a $15.00 price target on shares of Core Scientific in a report on Monday, July 14th. Barclays cut shares of Core Scientific to an "underweight" rating in a research note on Tuesday, July 8th. Macquarie cut shares of Core Scientific from a "strong-buy" rating to a "hold" rating and set a $15.00 price objective for the company. in a research note on Thursday, July 10th. Citizens Jmp cut shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 14th. Finally, Roth Capital reaffirmed a "neutral" rating and set a $20.00 price target on shares of Core Scientific in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $18.32.

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.

Want to see what other hedge funds are holding CORZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Core Scientific, Inc. (NASDAQ:CORZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.