Wealth Enhancement Advisory Services LLC Boosts Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Wealth Enhancement Advisory Services LLC grew its position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 43.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,969 shares of the company's stock after purchasing an additional 33,892 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Core Scientific were worth $1,573,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Core Scientific in the fourth quarter worth $8,827,000. Neo Ivy Capital Management boosted its holdings in Core Scientific by 731.2% in the fourth quarter. Neo Ivy Capital Management now owns 135,642 shares of the company's stock valued at $1,905,000 after purchasing an additional 119,324 shares during the last quarter. Two Seas Capital LP boosted its holdings in Core Scientific by 9.2% in the fourth quarter. Two Seas Capital LP now owns 6,232,888 shares of the company's stock valued at $87,572,000 after purchasing an additional 527,097 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Core Scientific by 76.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 394,999 shares of the company's stock worth $5,550,000 after purchasing an additional 171,461 shares during the period. Finally, Voloridge Investment Management LLC grew its position in Core Scientific by 4.5% during the 4th quarter. Voloridge Investment Management LLC now owns 4,048,932 shares of the company's stock worth $56,887,000 after purchasing an additional 175,587 shares during the period.

Insider Activity

In other Core Scientific 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 bought at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the purchase, the director now owns 475,687 shares in the company, valued at approximately $5,170,717.69. The trade was a 30.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd M. Duchene sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $12.31, for a total transaction of $615,500.00. Following the completion of the transaction, the insider now directly owns 2,050,102 shares in the company, valued at $25,236,755.62. This trade represents a 2.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

CORZ has been the subject of several analyst reports. Citigroup assumed coverage on Core Scientific in a report on Thursday, May 22nd. They issued an "outperform" rating for the company. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 target price on shares of Core Scientific in a report on Friday, May 16th. Compass Point lowered their price target on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald dropped their price target on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Eighteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Core Scientific currently has a consensus rating of "Buy" and a consensus target price of $18.33.

Core Scientific Trading Up 2.2%

NASDAQ:CORZ opened at $12.19 on Friday. The stock has a 50 day moving average of $8.97 and a two-hundred day moving average of $11.55. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month high of $18.63. The firm has a market cap of $3.63 billion, a P/E ratio of -2.25 and a beta of 6.66.

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

About Core Scientific

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.

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