Regal Partners Ltd Trims Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Regal Partners Ltd lessened its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 27.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 719,962 shares of the company's stock after selling 276,589 shares during the period. Core Scientific comprises approximately 1.0% of Regal Partners Ltd's investment portfolio, making the stock its 22nd biggest holding. Regal Partners Ltd owned approximately 0.26% of Core Scientific worth $10,115,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Core Scientific by 25.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company's stock worth $1,378,000 after acquiring an additional 20,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Core Scientific by 48.0% in the third quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company's stock valued at $5,192,000 after buying an additional 142,068 shares during the last quarter. FNY Investment Advisers LLC boosted its position in Core Scientific by 35.8% in the fourth quarter. FNY Investment Advisers LLC now owns 190,747 shares of the company's stock valued at $2,679,000 after buying an additional 50,275 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Core Scientific in the 4th quarter worth approximately $527,000. Finally, Stephens Inc. AR purchased a new position in Core Scientific during the 4th quarter worth approximately $927,000.

Insider Activity at Core Scientific

In other news, Director Jordan Levy purchased 62,500 shares of the stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $8.01 per share, with a total value of $500,625.00. Following the transaction, the director now owns 306,887 shares in the company, valued at $2,458,164.87. The trade was a 25.57 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the sale, the director now owns 195,687 shares of the company's stock, valued at approximately $2,103,635.25. The trade was a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Core Scientific Stock Up 2.2 %

Shares of Core Scientific stock traded up $0.19 during trading hours on Friday, reaching $8.74. 11,662,976 shares of the company's stock were exchanged, compared to its average volume of 12,825,481. The business has a fifty day moving average of $8.05 and a two-hundred day moving average of $12.22. The company has a market capitalization of $2.58 billion, a P/E ratio of -1.62 and a beta of 6.80. Core Scientific, Inc. has a 1 year low of $3.21 and a 1 year high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. As a group, research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CORZ. Craig Hallum assumed coverage on shares of Core Scientific in a report on Tuesday, January 21st. They set a "buy" rating and a $24.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, March 11th. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Wednesday, March 12th. Cantor Fitzgerald cut their price objective on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Finally, Compass Point reduced their target price on Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Core Scientific presently has an average rating of "Buy" and a consensus price target of $19.07.

Core Scientific 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.