Envestnet Asset Management Inc. Has $880,000 Stake in Core Scientific, Inc. $CORZ

Envestnet Asset Management Inc. lowered its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 63.6% in the second quarter, Holdings Channel reports. The firm owned 51,539 shares of the company’s stock after selling 89,860 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Core Scientific were worth $880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new position in shares of Core Scientific during the 2nd quarter worth about $51,000. Farther Finance Advisors LLC acquired a new position in Core Scientific during the second quarter valued at approximately $65,000. Nisa Investment Advisors LLC boosted its position in Core Scientific by 192.3% during the second quarter. Nisa Investment Advisors LLC now owns 4,662 shares of the company’s stock valued at $80,000 after purchasing an additional 3,067 shares during the last quarter. IFP Advisors Inc bought a new position in Core Scientific in the second quarter valued at approximately $86,000. Finally, State of Wyoming acquired a new position in shares of Core Scientific during the 1st quarter worth approximately $34,000.

Core Scientific Stock Performance

NASDAQ CORZ opened at $14.73 on Friday. The stock has a market cap of $4.57 billion, a PE ratio of 98.21 and a beta of 6.59. The firm has a 50-day moving average of $18.08 and a 200-day moving average of $14.88. Core Scientific, Inc. has a 52-week low of $6.20 and a 52-week high of $23.63.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Friday, October 24th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.39. The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $107.18 million. As a group, analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at Core Scientific

In other news, Director Eric Stanton Weiss bought 5,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were bought at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the completion of the purchase, the director owned 226,687 shares in the company, valued at approximately $4,873,770.50. This trade represents a 2.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Roth Capital reissued a “buy” rating on shares of Core Scientific in a research note on Friday, October 31st. Zacks Research cut shares of Core Scientific from a “hold” rating to a “strong sell” rating in a research note on Friday, October 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a research note on Wednesday, October 8th. Jefferies Financial Group set a $24.00 target price on shares of Core Scientific and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Craig Hallum set a $27.00 price target on Core Scientific in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Core Scientific has a consensus rating of “Hold” and a consensus target price of $22.39.

Core Scientific Company 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.