Core Scientific, Inc. $CORZ is ORG Wealth Partners LLC’s Largest Position

ORG Wealth Partners LLC increased its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 1.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,290,481 shares of the company’s stock after acquiring an additional 128,284 shares during the period. Core Scientific accounts for about 31.3% of ORG Wealth Partners LLC’s holdings, making the stock its biggest holding. ORG Wealth Partners LLC’s holdings in Core Scientific were worth $130,791,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Situational Awareness LP raised its position in Core Scientific by 76.8% during the second quarter. Situational Awareness LP now owns 7,994,038 shares of the company’s stock worth $136,458,000 after acquiring an additional 3,472,460 shares during the period. Geode Capital Management LLC grew its position in shares of Core Scientific by 26.2% in the second quarter. Geode Capital Management LLC now owns 7,371,211 shares of the company’s stock valued at $125,842,000 after purchasing an additional 1,530,466 shares during the period. State Street Corp increased its stake in shares of Core Scientific by 23.2% during the second quarter. State Street Corp now owns 6,517,898 shares of the company’s stock worth $111,261,000 after purchasing an additional 1,225,351 shares in the last quarter. Helix Partners Management LP raised its position in shares of Core Scientific by 0.5% during the 2nd quarter. Helix Partners Management LP now owns 6,029,222 shares of the company’s stock worth $102,919,000 after purchasing an additional 29,222 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Core Scientific by 70.6% in the 2nd quarter. Invesco Ltd. now owns 3,710,174 shares of the company’s stock valued at $63,333,000 after buying an additional 1,535,829 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Citizens Jmp raised Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Thursday, December 18th. HC Wainwright upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, October 28th. Citigroup upgraded Core Scientific from a “market perform” rating to an “outperform” rating in a report on Thursday, December 18th. Cantor Fitzgerald lifted their target price on shares of Core Scientific from $18.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Sanford C. Bernstein upped their target price on shares of Core Scientific from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific has a consensus rating of “Moderate Buy” and an average price target of $23.34.

Core Scientific Stock Performance

Shares of Core Scientific stock opened at $17.14 on Friday. The business’s 50 day moving average price is $16.52 and its 200 day moving average price is $16.03. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 114.27 and a beta of 6.87. Core Scientific, Inc. has a one year low of $6.20 and a one year high of $23.63.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping 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. On average, analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In other news, Director Eric Stanton Weiss acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average cost of $21.50 per share, for a total transaction of $107,500.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.40% of the company’s stock.

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.