Squarepoint Ops LLC Acquires 1,049,678 Shares of Core Scientific, Inc. $CORZ

Key Points

• Squarepoint Ops LLC increased its Core Scientific stake by 64.1% in the second quarter, acquiring 1,049,678 shares for a total holding of 2.69 million shares valued at approximately $68.7 million.
• Core Scientific shares opened at $18.73, while the company reported a quarterly loss of $3.32 per share—well below expectations—despite revenue of $164.2 million exceeding forecasts.
• Analyst sentiment remains largely positive, with a consensus “Moderate Buy” rating and an average price target of $32.18, although insiders sold 90,000 shares worth about $2.1 million over the past 90 days.

Squarepoint Ops LLC raised its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 64.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,686,177 shares of the company's stock after acquiring an additional 1,049,678 shares during the quarter. Squarepoint Ops LLC owned approximately 0.84% of Core Scientific worth $68,739,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CORZ. Allworth Financial LP grew its stake in shares of Core Scientific by 206.5% in the third quarter. Allworth Financial LP now owns 1,410 shares of the company's stock worth $25,000 after purchasing an additional 950 shares during the last quarter. Larson Financial Group LLC raised 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 purchasing an additional 1,686 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Core Scientific by 1,371.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company's stock worth $30,000 after buying an additional 1,097 shares during the period. Osaic Holdings Inc. lifted its holdings 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 buying an additional 1,066 shares during the period. Finally, CoreCap Advisors LLC bought a new stake in shares of Core Scientific in the 2nd quarter valued at about $36,000.

Core Scientific Trading Up 4.7%

Shares of CORZ opened at $18.73 on Wednesday. The firm's fifty day simple moving average is $20.44 and its two-hundred day simple moving average is $21.02. Core Scientific, Inc. has a 12 month low of $13.35 and a 12 month high of $30.46. The stock has a market capitalization of $6.02 billion, a P/E ratio of -4.24 and a beta of 5.48.

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 for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The firm had revenue of $164.20 million during the quarter, compared to analysts' expectations of $144.83 million. As a group, research analysts predict that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Core Scientific news, Director Eric Weiss bought 7,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was acquired at an average cost of $19.19 per share, for a total transaction of $134,330.00. Following the completion of the acquisition, the director owned 259,262 shares in the company, valued at $4,975,237.78. This trade represents a 2.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Todd DuChene sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $17.45, for a total value of $174,500.00. Following the completion of the transaction, the insider directly owned 1,937,896 shares in the company, valued at approximately $33,816,285.20. This trade represents a 0.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,000 shares of company stock valued at $2,091,800 over the last 90 days. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

CORZ has been the subject of several recent research reports. Capital One Financial set a $33.00 price target on Core Scientific in a research note on Thursday, July 30th. Needham & Company LLC lifted their price objective on Core Scientific from $29.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. B. Riley Financial upped their target price on Core Scientific from $33.00 to $42.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Core Scientific in a research report on Friday, July 17th. Finally, Jefferies Financial Group increased their target price on shares of Core Scientific from $24.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.18.

About Core Scientific

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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