Capelight Capital Asset Management LP Grows Stake in Core Scientific, Inc. $CORZ

Capelight Capital Asset Management LP boosted its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 1,233.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 600,000 shares of the company’s stock after purchasing an additional 555,000 shares during the quarter. Core Scientific comprises approximately 6.4% of Capelight Capital Asset Management LP’s investment portfolio, making the stock its 2nd largest holding. Capelight Capital Asset Management LP owned about 0.19% of Core Scientific worth $8,976,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP grew 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 acquiring an additional 950 shares in the last quarter. Larson Financial Group LLC lifted its position 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 acquiring an additional 1,686 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Core Scientific by 112.1% in the 2nd 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 bought a new position in shares of Core Scientific in the fourth quarter valued at approximately $36,000. Finally, State of Wyoming purchased a new position in shares of Core Scientific during the 4th quarter valued at $66,000.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Canaccord Genuity Group set a $30.00 price objective on shares of Core Scientific in a research report on Friday, May 8th. Cantor Fitzgerald boosted their target price on Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research report on Monday, April 20th. Jefferies Financial Group lifted their price objective on Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, B. Riley Financial boosted their price target on shares of Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.78.

Core Scientific Price Performance

Core Scientific stock opened at $21.43 on Friday. The business’s fifty day moving average is $25.26 and its 200 day moving average is $19.87. Core Scientific, Inc. has a one year low of $12.42 and a one year high of $30.46. The stock has a market capitalization of $6.81 billion, a PE ratio of -18.80 and a beta of 5.50.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The company had revenue of $115.24 million during the quarter, compared to the consensus estimate of $117.04 million. Core Scientific’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, sell-side analysts expect that Core Scientific, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $26.17, for a total value of $261,700.00. Following the completion of the transaction, the insider directly owned 2,038,895 shares in the company, valued at $53,357,882.15. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 90,000 shares of company stock worth $2,148,400. 1.70% of the stock is currently owned by company insiders.

Core Scientific 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.