Moore Capital Management LP decreased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 63.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,620 shares of the company's stock after selling 352,500 shares during the period. Moore Capital Management LP owned about 0.06% of Core Scientific worth $5,185,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of CORZ. AQR Capital Management LLC boosted its stake in Core Scientific by 106.1% in the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company's stock worth $2,052,000 after purchasing an additional 145,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Core Scientific by 180.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company's stock worth $8,032,000 after buying an additional 714,388 shares in the last quarter. Cetera Investment Advisers grew its holdings in Core Scientific by 200.0% during the 2nd quarter. Cetera Investment Advisers now owns 38,819 shares of the company's stock worth $663,000 after acquiring an additional 25,878 shares during the last quarter. Franklin Resources Inc. bought a new stake in Core Scientific during the 2nd quarter worth about $181,000. Finally, Russell Investments Group Ltd. increased its position in Core Scientific by 61.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company's stock valued at $67,000 after acquiring an additional 1,507 shares in the last quarter.
Analyst Ratings Changes
CORZ has been the subject of several research analyst reports. Wolfe Research restated a "buy" rating on shares of Core Scientific in a research report on Wednesday, July 29th. Compass Point restated a "buy" rating and set a $36.00 target price on shares of Core Scientific in a research report on Wednesday, July 29th. BTIG Research reiterated a "buy" rating and issued a $38.00 price objective on shares of Core Scientific in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Core Scientific in a research note on Friday, July 17th. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $32.00 price target on shares of Core Scientific in a research note on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.18.
Read Our Latest Report on Core Scientific
Insider Transactions at Core Scientific
In other news, insider Todd M. Duchene sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $17.45, for a total value of $174,500.00. Following the transaction, the insider owned 1,937,896 shares of the company's stock, valued at approximately $33,816,285.20. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Stanton Weiss purchased 7,000 shares of Core Scientific stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average price of $19.19 per share, with a total value of $134,330.00. Following the completion of the purchase, the director directly owned 259,262 shares in the company, valued at $4,975,237.78. This trade represents a 2.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 100,000 shares of company stock worth $2,360,300 over the last quarter. Company insiders own 1.70% of the company's stock.
Core Scientific Trading Down 1.3%
NASDAQ CORZ opened at $16.30 on Tuesday. The firm's fifty day moving average price is $21.59 and its two-hundred day moving average price is $21.02. The firm has a market capitalization of $5.24 billion, a P/E ratio of -3.69 and a beta of 5.59. Core Scientific, Inc. has a 1 year low of $13.14 and a 1 year high of $30.46.
Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($3.26). The business had revenue of $164.20 million for the quarter, compared to analysts' expectations of $144.83 million. On average, research analysts anticipate that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.
Core Scientific Company Profile
(
Free Report)
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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