United Capital Financial Advisors LLC Makes New Investment in Core Scientific, Inc. $CORZ

United Capital Financial Advisors LLC acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 59,908 shares of the company’s stock, valued at approximately $1,533,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of Core Scientific by 206.5% during the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after purchasing an additional 950 shares in the last quarter. Larson Financial Group LLC raised its stake in Core Scientific by 936.7% in the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after buying an additional 1,686 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Core Scientific by 112.1% during the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after buying an additional 1,066 shares during the period. Danske Bank A S purchased a new stake in Core Scientific during the fourth quarter worth $36,000. Finally, CoreCap Advisors LLC bought a new stake in Core Scientific during the 2nd quarter valued at $36,000.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $19.97, for a total transaction of $199,700.00. Following the sale, the insider owned 1,969,101 shares in the company, valued at approximately $39,322,946.97. The trade was a 0.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 100,000 shares of company stock valued at $2,360,300. Company insiders own 1.70% of the company’s stock.

Core Scientific Stock Down 6.3%

CORZ opened at $16.51 on Friday. The company has a market cap of $5.31 billion, a P/E ratio of -3.74 and a beta of 5.59. The firm’s 50-day moving average price is $21.85 and its 200-day moving average price is $21.02. Core Scientific, Inc. has a 52-week low of $13.14 and a 52-week high of $30.46.

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

Analyst Ratings Changes

Several research analysts have recently commented on CORZ shares. Canaccord Genuity Group boosted their price target on Core Scientific from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Lucid Cap Mkts raised Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. Keefe, Bruyette & Woods upgraded Core Scientific from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $25.00 to $28.00 in a research note on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a report on Friday, July 17th. Finally, Wolfe Research reissued a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Core Scientific has an average rating of “Moderate Buy” and a consensus price target of $32.18.

About Core Scientific

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.