Segall Bryant & Hamill LLC Grows Stake in Core Scientific, Inc. $CORZ

Key Points

• Segall Bryant & Hamill LLC more than doubled its Core Scientific stake in the first quarter, adding 1.20 million shares to own 2.31 million shares, or 0.73% of the company valued at approximately $34.49 million.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $31.68, although ratings range from “Strong Buy” to “Sell.”
• Core Scientific reported a significant quarterly EPS miss, posting a loss of $3.32 per share versus an expected loss of $0.06, while revenue of $164.2 million exceeded estimates of $144.83 million. An insider also sold 10,000 shares at an average price of $20.95.

Segall Bryant & Hamill LLC grew its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 108.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,305,498 shares of the company's stock after purchasing an additional 1,198,020 shares during the quarter. Segall Bryant & Hamill LLC owned 0.73% of Core Scientific worth $34,490,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of Core Scientific by 206.5% during 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 during the period. Larson Financial Group LLC lifted its position in Core Scientific by 936.7% during the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company's stock worth $27,000 after acquiring an additional 1,686 shares in the last quarter. Osaic Holdings Inc. lifted its position in Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company's stock worth $34,000 after acquiring an additional 1,066 shares in the last quarter. Danske Bank A S purchased a new position in Core Scientific in the 4th quarter worth approximately $36,000. Finally, Russell Investments Group Ltd. boosted its holdings in Core Scientific by 61.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company's stock worth $67,000 after acquiring an additional 1,507 shares during the period.

Analyst Ratings Changes

CORZ has been the subject of several recent research reports. Compass Point reaffirmed a "buy" rating and issued a $36.00 price objective on shares of Core Scientific in a research report on Wednesday. B. Riley Financial boosted their target price on shares of Core Scientific from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Core Scientific in a research note on Friday, July 17th. Loop Capital set a $40.00 price target on shares of Core Scientific in a report on Friday, June 12th. Finally, Freedom Capital raised shares of Core Scientific to a "hold" rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.68.

Insider Activity

In related news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction on Monday, July 27th. The shares were sold at an average price of $20.95, for a total value of $209,500.00. Following the completion of the sale, the insider owned 1,989,101 shares in the company, valued at approximately $41,671,665.95. The trade was a 0.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 90,000 shares of company stock valued at $2,234,900 in the last three months. 1.70% of the stock is currently owned by insiders.

Core Scientific Stock Performance

Shares of CORZ opened at $20.72 on Friday. The company has a market capitalization of $6.66 billion, a P/E ratio of -4.69 and a beta of 5.50. Core Scientific, Inc. has a one year low of $12.60 and a one year high of $30.46. The stock has a 50-day moving average price of $25.07 and a 200 day moving average price of $20.81.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. As a group, equities research analysts forecast that Core Scientific, Inc. will post -1.3 earnings per share for the current fiscal year.

Core Scientific Company 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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