GTS Securities LLC Reduces Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

GTS Securities LLC cut its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 73.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,385 shares of the company's stock after selling 107,015 shares during the period. GTS Securities LLC's holdings in Core Scientific were worth $539,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CORZ. Vanguard Group Inc. grew its holdings in Core Scientific by 54.3% during the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock worth $272,270,000 after acquiring an additional 6,819,406 shares during the last quarter. Beryl Capital Management LLC grew its holdings in Core Scientific by 24.3% during the 4th quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company's stock worth $255,423,000 after acquiring an additional 3,548,396 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Core Scientific by 112.1% during the 4th quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company's stock worth $144,212,000 after acquiring an additional 5,424,901 shares during the last quarter. FMR LLC grew its holdings in Core Scientific by 2,937.7% during the 4th quarter. FMR LLC now owns 7,436,229 shares of the company's stock worth $104,479,000 after acquiring an additional 7,191,428 shares during the last quarter. Finally, Two Seas Capital LP grew its holdings in Core Scientific by 9.2% during the 4th quarter. Two Seas Capital LP now owns 6,232,888 shares of the company's stock worth $87,572,000 after acquiring an additional 527,097 shares during the last quarter.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now directly owns 195,687 shares in the company, valued at approximately $2,103,635.25. This trade represents a 40.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jordan Levy bought 62,500 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the purchase, the director now directly owns 306,887 shares in the company, valued at approximately $2,458,164.87. This trade represents a 25.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CORZ. Citizens Jmp raised shares of Core Scientific to a "strong-buy" rating and set a $15.00 price objective on the stock in a report on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and set a $16.00 price objective on shares of Core Scientific in a report on Friday, May 16th. Citigroup initiated coverage on shares of Core Scientific in a research note on Thursday, May 22nd. They issued an "outperform" rating on the stock. Cantor Fitzgerald lowered their price target on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Finally, Compass Point lowered their price target on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Eighteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $18.33.

Core Scientific Stock Performance

Shares of Core Scientific stock traded down $0.09 on Thursday, hitting $10.69. The stock had a trading volume of 9,304,711 shares, compared to its average volume of 13,303,465. The stock has a 50 day moving average of $8.48 and a 200 day moving average of $11.78. Core Scientific, Inc. has a twelve month low of $4.46 and a twelve month high of $18.63. The firm has a market capitalization of $3.18 billion, a P/E ratio of -1.98 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates 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. The business's revenue for the quarter was down 55.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. Equities analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

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.