SG Americas Securities LLC Has $1.78 Million Stock Holdings in Core Scientific, Inc. $CORZ

SG Americas Securities LLC decreased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 87.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,104 shares of the company’s stock after selling 864,326 shares during the quarter. SG Americas Securities LLC’s holdings in Core Scientific were worth $1,782,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Core Scientific by 18.7% in the fourth 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 period. Situational Awareness LP grew its holdings in shares of Core Scientific by 42.5% in the 4th quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after buying an additional 8,575,944 shares during the period. Jericho Capital Asset Management L.P. grew its holdings in shares of Core Scientific by 11.4% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock valued at $189,842,000 after buying an additional 1,338,796 shares during the period. Value Aligned Research Advisors LLC bought a new stake in shares of Core Scientific in the 4th quarter valued at $117,786,000. Finally, Geode Capital Management LLC increased its position in shares of Core Scientific by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 7,651,002 shares of the company’s stock valued at $111,417,000 after buying an additional 109,145 shares in the last quarter.

Insider Activity at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $26.17, for a total value of $261,700.00. Following the sale, the insider directly owned 2,038,895 shares in the company, valued at $53,357,882.15. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 90,000 shares of company stock valued at $2,148,400 in the last 90 days. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group lifted their target price on Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. B. Riley Financial increased their price target on Core Scientific from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Needham & Company LLC raised their price target on Core Scientific from $23.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. BTIG Research raised their price target on Core Scientific from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Core Scientific to a “sell” rating in a report on Saturday, March 14th. Two investment 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.78.

Core Scientific Stock Down 9.6%

Shares of NASDAQ:CORZ opened at $21.43 on Friday. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -18.80 and a beta of 5.50. Core Scientific, Inc. has a 12 month low of $12.42 and a 12 month high of $30.46. The company’s fifty day simple moving average is $25.26 and its 200 day simple moving average is $19.87.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The company had revenue of $115.24 million for the quarter, compared to analysts’ expectations of $117.04 million. The company’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. Research analysts expect that Core Scientific, Inc. will post 0.08 earnings per share for the current fiscal 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.