GTS Securities LLC Sells 107,015 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

GTS Securities LLC trimmed its position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 73.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,385 shares of the company's stock after selling 107,015 shares during the quarter. GTS Securities LLC's holdings in Core Scientific were worth $539,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CORZ. FMR LLC raised its stake in shares of Core Scientific by 2,937.7% in the fourth 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Core Scientific by 54.3% in the fourth 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 in the last quarter. Helix Partners Management LP acquired a new position in shares of Core Scientific in the fourth quarter valued at $86,498,000. Driehaus Capital Management LLC raised its stake in shares of Core Scientific by 112.1% in the fourth 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 in the last quarter. Finally, Fred Alger Management LLC acquired a new position in shares of Core Scientific in the fourth quarter valued at $62,011,000.

Wall Street Analyst Weigh In

CORZ has been the subject of several recent analyst reports. Cantor Fitzgerald dropped their price objective on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Oppenheimer initiated coverage on Core Scientific in a research note on Wednesday, May 14th. They set an "outperform" rating and a $15.00 price objective for the company. Citizens Jmp upgraded Core Scientific to a "strong-buy" rating and set a $15.00 price objective for the company in a research note on Thursday, May 22nd. Citigroup initiated coverage on Core Scientific in a research note on Thursday, May 22nd. They set an "outperform" rating for the company. Finally, JMP Securities initiated coverage on Core Scientific in a research note on Thursday, May 22nd. They set a "market outperform" rating and a $15.00 price objective for the company. Eighteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $18.33.

Core Scientific Trading Up 0.5%

Core Scientific stock traded up $0.05 during mid-day trading on Friday, hitting $10.74. The stock had a trading volume of 19,587,009 shares, compared to its average volume of 13,414,476. The stock has a 50-day simple moving average of $8.55 and a two-hundred day simple moving average of $11.66. The stock has a market capitalization of $3.20 billion, a PE ratio of -1.99 and a beta of 6.66. Core Scientific, Inc. has a 12 month low of $4.74 and a 12 month high of $18.63.

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

Insider Activity at Core Scientific

In related news, Director Todd A. Becker sold 134,250 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the sale, the director now owns 195,687 shares in the company, valued at approximately $2,103,635.25. This represents a 40.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yadin Rozov bought 110,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were bought at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the transaction, the director now owns 475,687 shares in the company, valued at approximately $5,170,717.69. This trade represents a 30.08% increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Core Scientific 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.