Capstone Investment Advisors LLC Takes $934,000 Position in Core Scientific, Inc. $CORZ

Capstone Investment Advisors LLC bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 36,500 shares of the company’s stock, valued at approximately $934,000.

Several other large investors also recently bought and sold shares of the business. Xponance LLC lifted its position in Core Scientific by 2.5% during the fourth quarter. Xponance LLC now owns 22,896 shares of the company’s stock valued at $333,000 after purchasing an additional 562 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Core Scientific by 0.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company’s stock worth $2,418,000 after buying an additional 700 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of Core Scientific by 5.2% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after buying an additional 766 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Core Scientific by 34.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock worth $78,000 after buying an additional 782 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Core Scientific by 4.2% during the 4th quarter. Bank of Montreal Can now owns 21,592 shares of the company’s stock valued at $314,000 after buying an additional 869 shares in the last quarter.

Insider Activity

In other news, insider Todd M. Duchene sold 10,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $19.97, for a total transaction of $199,700.00. Following the transaction, the insider owned 1,969,101 shares in the company, valued at approximately $39,322,946.97. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 100,000 shares of company stock worth $2,360,300. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CORZ has been the subject of a number of analyst reports. Loop Capital set a $40.00 price target on shares of Core Scientific in a report on Friday, June 12th. BTIG Research reissued a “buy” rating and set a $38.00 price objective on shares of Core Scientific in a research note on Tuesday, July 28th. Lucid Cap Mkts upgraded Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. B. Riley Financial raised their price objective on Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.18.

Core Scientific Stock Performance

Shares of NASDAQ CORZ opened at $17.62 on Friday. Core Scientific, Inc. has a 52-week low of $13.14 and a 52-week high of $30.46. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of -3.99 and a beta of 5.59. The stock has a 50 day moving average price of $22.10 and a 200 day moving average price of $21.05.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. Analysts forecast that Core Scientific, Inc. will post -1.36 earnings per share for the current year.

Core Scientific Profile

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.