SG Americas Securities LLC Buys Shares of 47,939 Core Scientific, Inc. (NASDAQ:CORZ)

SG Americas Securities LLC bought a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 47,939 shares of the company's stock, valued at approximately $347,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Shields & Co. LLC bought a new position in shares of Core Scientific in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. bought a new stake in Core Scientific in the fourth quarter valued at about $34,000. GAMMA Investing LLC raised its position in shares of Core Scientific by 1,722.3% in the 1st quarter. GAMMA Investing LLC now owns 8,565 shares of the company's stock valued at $62,000 after acquiring an additional 8,095 shares during the period. Vestcor Inc bought a new position in shares of Core Scientific during the fourth quarter worth $66,000. Finally, Merit Financial Group LLC acquired a new position in Core Scientific in the first quarter valued at about $74,000.

Insider Activity

In related news, insider Todd M. Duchene sold 60,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total transaction of $679,800.00. Following the transaction, the insider now directly owns 2,100,102 shares of the company's stock, valued at $23,794,155.66. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yadin Rozov bought 110,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were purchased at an average cost of $10.87 per share, for a total transaction of $1,195,700.00. Following the transaction, the director now owns 475,687 shares in the company, valued at approximately $5,170,717.69. This represents a 30.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 117,759 shares of company stock worth $1,391,434 in the last three months. Company insiders own 1.40% of the company's stock.

Core Scientific Stock Up 1.8%

CORZ traded up $0.29 during midday trading on Friday, hitting $16.65. 72,443,324 shares of the company were exchanged, compared to its average volume of 13,260,775. The firm's 50 day moving average price is $10.47 and its 200-day moving average price is $11.09. Core Scientific, Inc. has a 1-year low of $6.20 and a 1-year high of $18.63.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup began coverage on shares of Core Scientific in a report on Thursday, May 22nd. They set an "outperform" rating on the stock. Needham & Company LLC reissued a "buy" rating and set a $18.00 price target on shares of Core Scientific in a research report on Friday. Roth Mkm reiterated a "buy" rating and issued a $20.00 price target on shares of Core Scientific in a research note on Thursday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Friday. Finally, Oppenheimer assumed coverage on shares of Core Scientific in a report on Wednesday, May 14th. They set an "outperform" rating and a $15.00 target price for the company. Eighteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $18.14.

Core Scientific Company 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.