Nations Financial Group Inc. IA ADV Has $3.65 Million Stock Holdings in Core Scientific, Inc. $CORZ

Nations Financial Group Inc. IA ADV boosted its position in Core Scientific, Inc. (NASDAQ:CORZ) by 19.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 243,939 shares of the company’s stock after acquiring an additional 39,279 shares during the period. Nations Financial Group Inc. IA ADV owned 0.08% of Core Scientific worth $3,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Core Scientific by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock worth $494,462,000 after purchasing an additional 5,359,710 shares during the last quarter. Situational Awareness LP grew its position in shares of Core Scientific by 42.5% during the 4th quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock worth $418,694,000 after buying an additional 8,575,944 shares during the period. Jericho Capital Asset Management L.P. grew its position in shares of Core Scientific by 11.4% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock worth $189,842,000 after buying an additional 1,338,796 shares during the period. Value Aligned Research Advisors LLC acquired a new stake in shares of Core Scientific during the 4th quarter worth approximately $117,786,000. Finally, Geode Capital Management LLC raised its stake in shares of Core Scientific by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 7,651,002 shares of the company’s stock worth $111,417,000 after buying an additional 109,145 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CORZ. Canaccord Genuity Group set a $30.00 price objective on shares of Core Scientific in a report on Friday, May 8th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Core Scientific in a research report on Tuesday, March 3rd. Jefferies Financial Group increased their price target on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded Core Scientific to a “sell” rating in a research report on Saturday, March 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.49.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction on Monday, June 15th. The shares were sold at an average price of $28.19, for a total transaction of $281,900.00. Following the transaction, the insider directly owned 2,058,895 shares of the company’s stock, valued at $58,040,250.05. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 80,000 shares of company stock valued at $1,746,300 in the last quarter. Company insiders own 1.70% of the company’s stock.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $29.16 on Monday. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of -25.58 and a beta of 5.49. The firm’s 50 day simple moving average is $23.97 and its 200 day simple moving average is $19.28. Core Scientific, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $30.46.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The company had revenue of $115.24 million for the quarter, compared to analyst estimates of $117.04 million. Core Scientific’s revenue was up 44.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. Equities research analysts expect that Core Scientific, Inc. will post 0.08 earnings per share for the current year.

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.