Clear Street Group Inc. Takes Position in Core Scientific, Inc. $CORZ

Clear Street Group Inc. acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 52,165 shares of the company’s stock, valued at approximately $760,000.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP boosted 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% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after buying an additional 1,686 shares during the period. Osaic Holdings Inc. grew its position in shares of Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after buying an additional 1,066 shares in the last quarter. Danske Bank A S purchased a new position in shares of Core Scientific during the fourth quarter valued at $36,000. Finally, State of Wyoming bought a new stake in shares of Core Scientific in the fourth quarter valued at about $66,000.

Analysts Set New Price Targets

Several research analysts have issued reports on CORZ shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a report on Monday, April 20th. B. Riley Financial increased their price objective on shares of Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Loop Capital set a $40.00 price objective on shares of Core Scientific in a research note on Friday. Canaccord Genuity Group set a $30.00 target price on Core Scientific in a report on Friday, May 8th. Finally, Needham & Company LLC increased their target price on Core Scientific from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.49.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $26.85, for a total value of $268,500.00. Following the completion of the sale, the insider owned 2,068,895 shares of the company’s stock, valued at approximately $55,549,830.75. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 70,000 shares of company stock worth $1,464,400. Corporate insiders own 1.70% of the company’s stock.

Core Scientific Stock Up 2.2%

NASDAQ:CORZ opened at $28.22 on Tuesday. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of -24.75 and a beta of 5.49. Core Scientific, Inc. has a 52 week low of $10.93 and a 52 week high of $30.46. The firm has a 50 day moving average of $23.01 and a 200 day moving average of $18.93.

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