Deuterium Capital Management LLC Lowers Stake in Core Scientific, Inc. $CORZ

Deuterium Capital Management LLC cut its position in Core Scientific, Inc. (NASDAQ:CORZ) by 27.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,000 shares of the company’s stock after selling 115,000 shares during the quarter. Core Scientific comprises about 9.6% of Deuterium Capital Management LLC’s holdings, making the stock its 5th largest position. Deuterium Capital Management LLC’s holdings in Core Scientific were worth $5,121,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position in shares of Core Scientific by 229.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 37,501 shares of the company’s stock valued at $272,000 after purchasing an additional 26,135 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Core Scientific in the second quarter valued at $243,000. Heritage Oak Wealth Advisors LLC grew its position in shares of Core Scientific by 2.4% in the second quarter. Heritage Oak Wealth Advisors LLC now owns 753,846 shares of the company’s stock valued at $12,868,000 after purchasing an additional 17,709 shares in the last quarter. Summit Trail Advisors LLC purchased a new position in Core Scientific during the first quarter worth about $357,000. Finally, Anson Funds Management LP purchased a new position in Core Scientific during the first quarter worth about $689,000.

Core Scientific Trading Up 1.1%

NASDAQ CORZ opened at $20.09 on Wednesday. Core Scientific, Inc. has a 1-year low of $6.20 and a 1-year high of $21.02. The stock has a 50-day moving average of $16.65 and a 200-day moving average of $13.53. The firm has a market cap of $6.23 billion, a PE ratio of 133.94 and a beta of 6.58.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Friday, October 24th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.39. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $107.18 million. As a group, equities research analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

CORZ has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Core Scientific in a research report on Tuesday, August 12th. B. Riley upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, October 22nd. Roth Capital upgraded Core Scientific from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $17.00 to $23.50 in a report on Thursday, October 23rd. HC Wainwright upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday. Finally, Arete Research upgraded Core Scientific to a “strong-buy” rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Core Scientific presently has an average rating of “Hold” and an average price target of $21.25.

Core Scientific 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.