Core Scientific, Inc. $CORZ Shares Sold by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC reduced its stake in Core Scientific by 33.1% in Q2, selling 334,049 shares and retaining 675,545 shares valued at approximately $11.53 million.
• Several large investors increased their positions in Core Scientific, including Oppenheimer Asset Management, which raised its stake by 229.9%.
• Analysts have given mixed ratings on Core Scientific, with an average target price of $18.39 and a general consensus rating of "Hold."

Exchange Traded Concepts LLC decreased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 33.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 675,545 shares of the company's stock after selling 334,049 shares during the period. Exchange Traded Concepts LLC owned approximately 0.23% of Core Scientific worth $11,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CORZ. State of Wyoming bought a new position in Core Scientific during the first quarter valued at $34,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Core Scientific in the 1st quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Core Scientific during the 1st quarter worth about $50,000. CWM LLC grew its holdings in 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 in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Core Scientific by 1,722.3% during the first quarter. GAMMA Investing LLC now owns 8,565 shares of the company's stock valued at $62,000 after buying an additional 8,095 shares during the last quarter.

Core Scientific Trading Down 0.8%

CORZ stock traded down $0.13 on Friday, reaching $16.62. 13,933,974 shares of the company's stock were exchanged, compared to its average volume of 12,007,850. The stock has a fifty day moving average of $14.24 and a 200-day moving average of $11.56. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate 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. The business's quarterly revenue was down 44.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CORZ has been the topic of a number of research analyst reports. Compass Point initiated coverage on shares of Core Scientific in a research note on Monday, September 15th. They issued a "buy" rating on the stock. Arete Research raised Core Scientific to a "strong-buy" rating in a research report on Tuesday, July 22nd. Oppenheimer reaffirmed a "market perform" rating on shares of Core Scientific in a research report on Monday, July 7th. B. Riley downgraded Core Scientific from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Finally, Craig Hallum downgraded Core Scientific from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $18.39.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 7,759 shares of Core Scientific stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total value of $96,134.01. Following the completion of the sale, the insider owned 2,049,689 shares in the company, valued at $25,395,646.71. The trade was a 0.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.40% of the company's stock.

About Core Scientific

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.