Pekin Hardy Strauss Inc. Buys New Position in Core Scientific, Inc. $CORZ

Pekin Hardy Strauss Inc. purchased a new position in Core Scientific, Inc. (NASDAQ:CORZ) during the 2nd quarter, Holdings Channel reports. The fund purchased 28,975 shares of the company’s stock, valued at approximately $495,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Core Scientific by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 20,578,100 shares of the company’s stock valued at $148,985,000 after acquiring an additional 1,199,448 shares during the period. Fred Alger Management LLC raised its holdings in Core Scientific by 46.7% in the 1st quarter. Fred Alger Management LLC now owns 6,473,552 shares of the company’s stock worth $46,869,000 after purchasing an additional 2,059,985 shares during the period. Clearline Capital LP lifted its position in Core Scientific by 157.8% during the first quarter. Clearline Capital LP now owns 5,403,963 shares of the company’s stock valued at $39,125,000 after purchasing an additional 3,308,100 shares in the last quarter. Situational Awareness LP bought a new stake in Core Scientific during the first quarter valued at about $32,736,000. Finally, Vident Advisory LLC grew its holdings in Core Scientific by 11.5% during the first quarter. Vident Advisory LLC now owns 2,445,322 shares of the company’s stock valued at $17,704,000 after purchasing an additional 253,097 shares during the period.

Core Scientific Price Performance

Shares of CORZ opened at $20.19 on Friday. The firm has a market cap of $6.26 billion, a P/E ratio of 134.61 and a beta of 6.59. Core Scientific, Inc. has a 1 year low of $6.20 and a 1 year high of $23.63. The company has a 50 day simple moving average of $17.81 and a two-hundred day simple moving average of $14.29.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Friday, October 24th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.39. The company had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $107.18 million. On average, sell-side analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

CORZ has been the topic of a number of analyst reports. HC Wainwright raised Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Tuesday, October 28th. Cantor Fitzgerald raised their target price on shares of Core Scientific from $18.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Arete initiated coverage on shares of Core Scientific in a report on Tuesday, July 22nd. They set a “buy” rating and a $20.00 price target on the stock. JMP Securities reissued a “market perform” rating on shares of Core Scientific in a research note on Tuesday, August 12th. Finally, Craig Hallum set a $27.00 price objective on shares of Core Scientific in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific has an average rating of “Hold” and a consensus target price of $22.39.

Insider Buying and Selling

In related news, Director Eric Stanton Weiss acquired 5,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was acquired at an average price of $21.50 per share, with a total value of $107,500.00. Following the acquisition, the director directly owned 226,687 shares of the company’s stock, valued at approximately $4,873,770.50. This trade represents a 2.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by insiders.

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.