Weiss Asset Management LP Raises Stock Holdings in Core Scientific, Inc. $CORZ

Weiss Asset Management LP boosted its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 51,480.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 557,590 shares of the company’s stock after acquiring an additional 556,509 shares during the quarter. Weiss Asset Management LP’s holdings in Core Scientific were worth $8,342,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Core Scientific by 206.5% in 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 during the period. Larson Financial Group LLC lifted its holdings in shares of Core Scientific by 936.7% during the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after purchasing an additional 1,686 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of 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 purchasing an additional 1,066 shares during the period. Danske Bank A S purchased a new stake in Core Scientific in the fourth quarter valued at approximately $36,000. Finally, PNC Financial Services Group Inc. increased its holdings in Core Scientific by 41.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,396 shares of the company’s stock worth $66,000 after buying an additional 1,285 shares during the period.

Analyst Ratings Changes

A number of equities analysts have issued reports on CORZ shares. Freedom Capital raised shares of Core Scientific to a “hold” rating in a research report on Monday, June 15th. Canaccord Genuity Group set a $30.00 price objective on shares of Core Scientific in a report on Friday, May 8th. Jefferies Financial Group increased their price objective on shares of Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. B. Riley Financial raised 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, Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.39.

Core Scientific Stock Down 5.1%

Core Scientific stock opened at $22.75 on Friday. The business’s 50-day moving average price is $25.42 and its 200 day moving average price is $20.68. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of -19.96 and a beta of 5.50. Core Scientific, Inc. has a 52 week low of $12.60 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The business had revenue of $115.24 million during the quarter, compared to the consensus estimate of $117.04 million. During the same period in the previous year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 44.9% compared to the same quarter last year. Equities analysts expect that Core Scientific, Inc. will post 0.08 EPS for the current year.

Insider Activity at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $22.63, for a total transaction of $226,300.00. Following the completion of the transaction, the insider directly owned 2,023,426 shares of the company’s stock, valued at $45,790,130.38. The trade was a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 80,000 shares of company stock worth $2,011,800. 1.70% of the stock is owned by company insiders.

Core Scientific Company 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.