Sandro Wealth Management LLC Buys New Stake in Core Scientific, Inc. $CORZ

Key Points

• Sandro Wealth Management LLC bought a new stake of 308,614 shares of Core Scientific (NASDAQ:CORZ) in Q4 worth about $4.49 million, representing roughly 3.7% of its portfolio and the firm's 5th largest holding.
• Core Scientific reported Q earnings of $0.42 per share, beating expectations (consensus -$0.27), but revenue missed at $79.76 million versus $118.45 million estimated and was down 16% year‑over‑year.
• The stock has a market cap of $6.42 billion and a 12‑month range of $8.39–$23.63, with a MarketBeat consensus of Moderate Buy and a $25.07 price target; insiders have recently sold shares (10,000 by Todd Duchene, 40,000 sold over the quarter).

Sandro Wealth Management LLC purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 308,614 shares of the company's stock, valued at approximately $4,493,000. Core Scientific accounts for approximately 3.7% of Sandro Wealth Management LLC's investment portfolio, making the stock its 5th largest holding. Sandro Wealth Management LLC owned about 0.10% of Core Scientific as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Xponance Inc. grew its stake in shares of Core Scientific by 2.7% in the 3rd quarter. Xponance Inc. now owns 22,334 shares of the company's stock valued at $401,000 after purchasing an additional 595 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Core Scientific by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,029 shares of the company's stock valued at $377,000 after buying an additional 711 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in Core Scientific by 0.3% in the 4th quarter. CWA Asset Management Group LLC now owns 239,937 shares of the company's stock valued at $3,493,000 after buying an additional 756 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in Core Scientific by 5.2% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company's stock valued at $279,000 after buying an additional 766 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company's stock valued at $25,000 after buying an additional 950 shares in the last quarter.

Core Scientific Stock Up 1.8%

Shares of NASDAQ CORZ opened at $20.35 on Friday. Core Scientific, Inc. has a 12-month low of $8.39 and a 12-month high of $23.63. The firm's 50-day simple moving average is $17.41 and its 200 day simple moving average is $17.44. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 17.39 and a beta of 5.47.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.69. The company had revenue of $79.76 million during the quarter, compared to the consensus estimate of $118.45 million. During the same period in the prior year, the firm posted ($0.69) earnings per share. The company's revenue was down 16.0% on a year-over-year basis. On average, equities analysts expect that Core Scientific, Inc. will post 0.07 earnings per share for the current year.

Insider Activity at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the business's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $20.94, for a total value of $209,400.00. Following the completion of the transaction, the insider owned 1,990,348 shares in the company, valued at $41,677,887.12. The trade was a 0.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 40,000 shares of company stock worth $724,800 over the last quarter. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CORZ has been the subject of several recent analyst reports. Wall Street Zen upgraded Core Scientific to a "sell" rating in a research note on Saturday, March 14th. Keefe, Bruyette & Woods upped their target price on shares of Core Scientific from $19.00 to $25.00 and gave the stock a "moderate buy" rating in a report on Tuesday, January 27th. HC Wainwright reissued a "buy" rating and set a $25.00 price target on shares of Core Scientific in a report on Tuesday, March 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Core Scientific in a report on Monday, April 20th. Finally, LADENBURG THALM/SH SH cut their price target on shares of Core Scientific from $24.50 to $23.75 and set a "buy" rating for the company in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.07.

Core Scientific Profile

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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