Shikiar Asset Management Inc. Sells 32,675 Shares of Core Scientific, Inc. $CORZ

Shikiar Asset Management Inc. reduced its position in Core Scientific, Inc. (NASDAQ:CORZ) by 61.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 20,275 shares of the company’s stock after selling 32,675 shares during the period. Shikiar Asset Management Inc.’s holdings in Core Scientific were worth $303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance LLC boosted its holdings in Core Scientific by 2.5% in the fourth quarter. Xponance LLC now owns 22,896 shares of the company’s stock valued at $333,000 after acquiring an additional 562 shares during the last quarter. Xponance Inc. raised its holdings in Core Scientific by 2.7% during the 3rd quarter. Xponance Inc. now owns 22,334 shares of the company’s stock worth $401,000 after purchasing an additional 595 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Core Scientific by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,029 shares of the company’s stock worth $377,000 after purchasing an additional 711 shares during the last quarter. CWA Asset Management Group LLC lifted its position in Core Scientific by 0.3% during the 4th quarter. CWA Asset Management Group LLC now owns 239,937 shares of the company’s stock valued at $3,493,000 after purchasing an additional 756 shares during the period. Finally, Orion Porfolio Solutions LLC lifted its position in Core Scientific by 5.2% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock valued at $279,000 after purchasing an additional 766 shares during the period.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $29.29, for a total transaction of $292,900.00. Following the transaction, the insider directly owned 2,048,895 shares in the company, valued at approximately $60,012,134.55. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 80,000 shares of company stock worth $1,886,700. Company insiders own 1.70% of the company’s stock.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $25.59 on Wednesday. The company has a 50 day moving average price of $25.17 and a two-hundred day moving average price of $19.79. The company has a market capitalization of $8.13 billion, a PE ratio of -22.45 and a beta of 5.49. Core Scientific, Inc. has a 52 week low of $12.42 and a 52 week high of $30.46.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The firm had revenue of $115.24 million for the quarter, compared to the consensus estimate of $117.04 million. During the same quarter last year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 44.9% on a year-over-year basis. On average, sell-side analysts forecast that Core Scientific, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CORZ shares. BTIG Research lifted their price target on shares of Core Scientific from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Jefferies Financial Group increased their price objective on shares of Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Canaccord Genuity Group set a $30.00 price objective on shares of Core Scientific in a research note on Friday, May 8th. B. Riley Financial lifted their target price on shares of Core Scientific from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Core Scientific in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.78.

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.