Core Scientific, Inc. (NASDAQ:CORZ) Shares Sold by Regal Partners Ltd

Regal Partners Ltd trimmed its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 27.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 719,962 shares of the company’s stock after selling 276,589 shares during the period. Core Scientific accounts for approximately 1.0% of Regal Partners Ltd’s holdings, making the stock its 22nd largest holding. Regal Partners Ltd’s holdings in Core Scientific were worth $10,115,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CORZ. JPMorgan Chase & Co. boosted its stake in Core Scientific by 48.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company’s stock worth $5,192,000 after buying an additional 142,068 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Core Scientific by 25.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock worth $1,378,000 after buying an additional 20,000 shares during the last quarter. ORG Wealth Partners LLC boosted its stake in Core Scientific by 0.3% in the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock worth $126,262,000 after buying an additional 26,649 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in Core Scientific by 35.8% in the 4th quarter. FNY Investment Advisers LLC now owns 190,747 shares of the company’s stock worth $2,679,000 after buying an additional 50,275 shares during the last quarter. Finally, Shikiar Asset Management Inc. boosted its stake in Core Scientific by 27.0% in the 4th quarter. Shikiar Asset Management Inc. now owns 95,250 shares of the company’s stock worth $1,338,000 after buying an additional 20,250 shares during the last quarter.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $8.29 on Wednesday. The company has a market cap of $2.44 billion, a P/E ratio of -1.53 and a beta of 6.80. Core Scientific, Inc. has a one year low of $2.88 and a one year high of $18.63. The business’s 50-day simple moving average is $8.15 and its 200 day simple moving average is $12.31.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analysts’ expectations of $97.07 million. Analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other Core Scientific news, Director Jordan Levy acquired 62,500 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the acquisition, the director now directly owns 306,887 shares of the company’s stock, valued at $2,458,164.87. This trade represents a 25.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the sale, the director now owns 195,687 shares in the company, valued at $2,103,635.25. This represents a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CORZ shares. Compass Point decreased their price target on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. HC Wainwright restated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, March 11th. Needham & Company LLC cut their price objective on Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Keefe, Bruyette & Woods initiated coverage on Core Scientific in a report on Monday, January 27th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Craig Hallum initiated coverage on Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price objective on the stock. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $19.07.

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.