Feynman Point Asset Management LLC Has $1.64 Million Stock Holdings in Core Scientific, Inc. $CORZ

Key Points

• Feynman Point Asset Management cut its Core Scientific stake by 47.6% in the first quarter, selling 99,129 shares and retaining 109,336 shares valued at approximately $1.64 million.
• Core Scientific reported quarterly revenue of $164.2 million but posted a sharply wider-than-expected loss of $3.32 per share. Shares opened at $20.75, compared with a 52-week range of $12.60 to $30.46.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and $30.39 price target, although the company faces risks from insider selling, heavy capital spending and potential dilution from its AI infrastructure expansion.

Feynman Point Asset Management LLC cut its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 47.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,336 shares of the company's stock after selling 99,129 shares during the period. Core Scientific accounts for approximately 2.0% of Feynman Point Asset Management LLC's holdings, making the stock its 7th biggest holding. Feynman Point Asset Management LLC's holdings in Core Scientific were worth $1,636,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. California State Teachers Retirement System raised its stake in shares of Core Scientific by 22.1% during the first quarter. California State Teachers Retirement System now owns 288,936 shares of the company's stock worth $4,322,000 after buying an additional 52,260 shares during the last quarter. Royal Bank of Canada boosted its stake in Core Scientific by 62.6% in the first quarter. Royal Bank of Canada now owns 94,838 shares of the company's stock valued at $1,419,000 after acquiring an additional 36,517 shares during the last quarter. Empowered Funds LLC bought a new position in Core Scientific in the first quarter valued at approximately $346,000. The Manufacturers Life Insurance Company grew its holdings in Core Scientific by 45.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 139,102 shares of the company's stock worth $2,081,000 after acquiring an additional 43,697 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Core Scientific by 35.6% during the 1st quarter. Quantinno Capital Management LP now owns 26,326 shares of the company's stock worth $394,000 after acquiring an additional 6,909 shares during the period.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $22.30, for a total transaction of $223,000.00. Following the transaction, the insider directly owned 1,999,101 shares in the company, valued at approximately $44,579,952.30. The trade was a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 80,000 shares of company stock worth $2,025,400. Company insiders own 1.70% of the company's stock.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $20.75 on Wednesday. The company has a 50 day moving average price of $25.32 and a two-hundred day moving average price of $20.77. The company has a market capitalization of $6.60 billion, a PE ratio of -18.20 and a beta of 5.50. Core Scientific, Inc. has a 52 week low of $12.60 and a 52 week high of $30.46.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($3.26). The firm had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. On average, sell-side analysts forecast that Core Scientific, Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CORZ. Weiss Ratings reissued a "sell (d-)" rating on shares of Core Scientific in a research note on Friday, July 17th. Keefe, Bruyette & Woods cut Core Scientific from an "outperform" rating to a "market perform" rating and set a $25.00 price objective for the company. in a research note on Monday. B. Riley Financial lifted their price objective on Core Scientific from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $32.00 price objective on shares of Core Scientific in a report on Wednesday, June 3rd. Finally, Canaccord Genuity Group set a $30.00 target price on Core Scientific in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.39.

More Core Scientific News

Here are the key news stories impacting Core Scientific this week:

• Positive Sentiment: AMD partnership creates significant long-term revenue potential. AMD will secure up to 2.5 gigawatts of Core Scientific data-center capacity for AI deployments. The initial 530-megawatt rollout across five sites is backed by 15-year agreements and could generate approximately $14 billion in potential base contracted revenue. AMD also received warrants to purchase 30 million CORZ shares at $23.47, with vesting tied to successful capacity deployment. Reuters AMD infrastructure partnership article
• Positive Sentiment: Colocation growth reinforces the AI pivot. Second-quarter revenue reached $164.2 million, while colocation revenue reportedly climbed to $136.7 million from $10.6 million a year earlier. The company said adjusted EBITDA was $41.1 million, suggesting improving operating performance despite reported accounting losses. Core Scientific second-quarter results
• Positive Sentiment: Analyst support and bullish options activity added momentum. Needham reaffirmed a Buy rating with a $29 price target, while BTIG maintained Buy with a $38 target. Call-option volume was approximately 55% above its average daily level, indicating increased speculative interest, though options activity is not a guarantee of future gains.
• Neutral Sentiment: Reported earnings contained conflicting signals. Core Scientific posted a $3.32-per-share quarterly GAAP loss, far below consensus, but another earnings measure cited by Zacks showed adjusted EPS of $0.18 versus expectations for a $0.02 loss. The GAAP deficit was reportedly driven largely by noncash warrant fair-value adjustments.
• Negative Sentiment: Execution, dilution and spending risks remain material. Core Scientific incurred approximately $797.5 million in quarterly capital expenditures to convert mining sites for high-density computing. The AMD warrants could dilute shareholders, while an insider’s sale of 10,000 shares and a recent KBW downgrade to Market Perform may temper enthusiasm.

About Core Scientific

Core Scientific, Inc NASDAQ: CORZ is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific's service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.

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