SG Americas Securities LLC Makes New $347,000 Investment in Core Scientific, Inc. (NASDAQ:CORZ)

SG Americas Securities LLC purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 47,939 shares of the company’s stock, valued at approximately $347,000.

Several other large investors also recently made changes to their positions in CORZ. KLP Kapitalforvaltning AS bought a new position in shares of Core Scientific in the 4th quarter valued at approximately $527,000. Deutsche Bank AG grew its holdings in Core Scientific by 53.8% during the fourth quarter. Deutsche Bank AG now owns 165,032 shares of the company’s stock valued at $2,319,000 after purchasing an additional 57,742 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Core Scientific by 30.7% in the fourth quarter. New York State Common Retirement Fund now owns 187,181 shares of the company’s stock valued at $2,630,000 after purchasing an additional 43,915 shares during the period. Millennium Management LLC bought a new position in shares of Core Scientific in the fourth quarter valued at approximately $1,335,000. Finally, LPL Financial LLC lifted its stake in shares of Core Scientific by 42.9% in the fourth quarter. LPL Financial LLC now owns 421,213 shares of the company’s stock worth $5,918,000 after buying an additional 126,454 shares during the last quarter.

Analyst Upgrades and Downgrades

CORZ has been the topic of a number of research analyst reports. Cantor Fitzgerald lowered their target price on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research report on Friday, May 9th. Oppenheimer began coverage on Core Scientific in a research note on Wednesday, May 14th. They issued an “outperform” rating and a $15.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, March 11th. Finally, Citizens Jmp raised Core Scientific to a “strong-buy” rating and set a $15.00 target price on the stock in a report on Thursday, May 22nd. Eighteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Core Scientific currently has a consensus rating of “Buy” and a consensus target price of $18.44.

Insider Activity

In related news, Director Yadin Rozov acquired 110,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were bought at an average cost of $10.87 per share, for a total transaction of $1,195,700.00. Following the purchase, the director now owns 475,687 shares in the company, valued at approximately $5,170,717.69. This trade represents a 30.08% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Todd M. Duchene sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $12.31, for a total value of $615,500.00. Following the transaction, the insider now owns 2,050,102 shares of the company’s stock, valued at $25,236,755.62. This trade represents a 2.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Core Scientific Trading Up 0.7%

Shares of NASDAQ:CORZ opened at $12.30 on Thursday. Core Scientific, Inc. has a 1-year low of $6.20 and a 1-year high of $18.63. The firm has a market capitalization of $3.66 billion, a PE ratio of -2.45 and a beta of 6.30. The business’s 50 day moving average is $10.27 and its 200-day moving average is $11.08.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $79.53 million during the quarter, compared to analyst estimates of $92.04 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was down 55.6% compared to the same quarter last year. On average, sell-side analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

About Core Scientific

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.