Core Scientific, Inc. $CORZ Stake Cut by Rise Advisors LLC

Rise Advisors LLC reduced its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 33.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the company’s stock after selling 2,000 shares during the period. Rise Advisors LLC’s holdings in Core Scientific were worth $68,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CORZ. State of Wyoming purchased a new stake in Core Scientific in the 1st quarter worth about $34,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Core Scientific during the 1st quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Core Scientific during the 1st quarter worth about $50,000. CWM LLC raised its stake in shares of Core Scientific by 403.9% during the 1st quarter. CWM LLC now owns 8,092 shares of the company’s stock worth $59,000 after purchasing an additional 6,486 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Core Scientific by 1,722.3% during the 1st quarter. GAMMA Investing LLC now owns 8,565 shares of the company’s stock worth $62,000 after purchasing an additional 8,095 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Arete Research raised Core Scientific to a “strong-buy” rating in a research note on Tuesday, July 22nd. Roth Mkm reaffirmed a “buy” rating and set a $20.00 price target on shares of Core Scientific in a research note on Thursday, June 26th. Barclays downgraded Core Scientific to an “underweight” rating in a research note on Tuesday, July 8th. Craig Hallum downgraded Core Scientific from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 7th. Finally, Citizens Jmp downgraded Core Scientific from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Core Scientific has a consensus rating of “Hold” and an average target price of $18.39.

Core Scientific Stock Performance

Shares of NASDAQ CORZ opened at $15.86 on Monday. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of -28.32 and a beta of 6.59. The business’s 50-day simple moving average is $13.96 and its 200-day simple moving average is $11.35. Core Scientific, Inc. has a 52 week low of $6.20 and a 52 week high of $18.63.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $78.63 million for the quarter, compared to analyst estimates of $82.09 million. Core Scientific’s revenue for the quarter was down 44.3% on a year-over-year basis. As a group, equities research analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 7,759 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total value of $96,134.01. Following the sale, the insider owned 2,049,689 shares of the company’s stock, valued at $25,395,646.71. This trade represents a 0.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is owned by company insiders.

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.