Proficio Capital Partners LLC Makes New $1.29 Million Investment in Core Scientific, Inc. (NASDAQ:CORZ)

Proficio Capital Partners LLC acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 161,329 shares of the company's stock, valued at approximately $1,287,000. Proficio Capital Partners LLC owned approximately 0.05% of Core Scientific at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company's stock worth $104,479,000 after buying an additional 7,191,428 shares during the last quarter. Vanguard Group Inc. grew its position 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 purchasing an additional 6,819,406 shares during the last quarter. Helix Partners Management LP purchased a new stake in Core Scientific during the 4th quarter worth approximately $86,498,000. Driehaus Capital Management LLC grew its position 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 purchasing an additional 5,424,901 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new stake in shares of Core Scientific in the 4th quarter valued at $62,011,000.

Core Scientific Price Performance

Shares of CORZ traded up $0.01 during mid-day trading on Friday, reaching $13.70. The stock had a trading volume of 9,354,822 shares, compared to its average volume of 16,417,090. Core Scientific, Inc. has a 52-week low of $6.20 and a 52-week high of $18.63. The business's fifty day moving average is $12.93 and its 200 day moving average is $11.06. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of -2.72 and a beta of 6.71.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. The firm had revenue of $79.53 million during the quarter, compared to analysts' expectations of $92.04 million. During the same period in the prior year, the company posted $0.78 EPS. The company's revenue for the quarter was down 55.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CORZ. Citigroup downgraded shares of Core Scientific from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. HC Wainwright downgraded shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Craig Hallum downgraded shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Monday, July 7th. JMP Securities reiterated a "market perform" rating and issued a $15.00 target price on shares of Core Scientific in a research note on Monday, July 14th. Finally, BTIG Research cut shares of Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 target price for the company. in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $18.32.

Insider Transactions at Core Scientific

In other news, Director Yadin Rozov acquired 110,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was purchased at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the acquisition, the director owned 475,687 shares of the company's stock, valued at $5,170,717.69. This trade represents a 30.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Todd M. Duchene sold 7,759 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total transaction of $96,134.01. Following the transaction, the insider directly owned 2,049,689 shares of the company's stock, valued at approximately $25,395,646.71. This trade represents a 0.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,759 shares of company stock valued at $1,391,434 in the last three months. 1.40% of the stock is currently 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.