Phoenix Financial Ltd. Trims Stock Position in Core Scientific, Inc. $CORZ

Phoenix Financial Ltd. lessened its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 21.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,283 shares of the company’s stock after selling 6,911 shares during the period. Phoenix Financial Ltd.’s holdings in Core Scientific were worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised its position in shares of Core Scientific by 128.8% in the second quarter. Mutual of America Capital Management LLC now owns 602,427 shares of the company’s stock worth $10,283,000 after acquiring an additional 339,161 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of Core Scientific during the 2nd quarter worth about $10,367,000. Bernard Wealth Management Corp. purchased a new stake in shares of Core Scientific during the 2nd quarter worth about $51,000. Shikiar Asset Management Inc. boosted its stake in shares of Core Scientific by 20.3% during the 2nd quarter. Shikiar Asset Management Inc. now owns 101,550 shares of the company’s stock worth $1,733,000 after acquiring an additional 17,150 shares in the last quarter. Finally, IFP Advisors Inc purchased a new stake in shares of Core Scientific during the 2nd quarter worth about $86,000.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CORZ shares. Arete Research raised shares of Core Scientific to a “strong-buy” rating in a research note on Tuesday, July 22nd. UBS Group set a $30.00 target price on shares of Core Scientific in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research note on Wednesday, October 8th. Citizens Jmp lowered shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 14th. Finally, Roth Capital cut their target price on shares of Core Scientific from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.06.

Core Scientific Stock Down 7.4%

CORZ stock opened at $17.80 on Thursday. The stock has a market capitalization of $5.47 billion, a P/E ratio of -31.79 and a beta of 6.58. The firm has a 50-day simple moving average of $16.24 and a 200-day simple moving average of $13.10. Core Scientific, Inc. has a 52 week low of $6.20 and a 52 week high of $20.36.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Friday, August 8th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $78.63 million for the quarter, compared to analysts’ expectations of $82.09 million. Core Scientific’s quarterly revenue was down 44.3% compared to the same quarter last year. On average, analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Core Scientific Company Profile

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.