Core Scientific, Inc. $CORZ is Galaxy Digital Capital Management GP LLC’s Largest Position

Galaxy Digital Capital Management GP LLC lowered its position in Core Scientific, Inc. (NASDAQ:CORZ) by 25.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 784,540 shares of the company’s stock after selling 272,777 shares during the period. Core Scientific comprises approximately 11.9% of Galaxy Digital Capital Management GP LLC’s investment portfolio, making the stock its biggest position. Galaxy Digital Capital Management GP LLC owned approximately 0.25% of Core Scientific worth $11,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Purpose Unlimited Inc. purchased a new position in Core Scientific during the fourth quarter worth approximately $312,000. Osbon Capital Management LLC acquired a new position in shares of Core Scientific during the 4th quarter worth approximately $202,000. Green Ridge Wealth Planning LLC purchased a new position in shares of Core Scientific during the 4th quarter valued at approximately $180,000. Caitong International Asset Management Co. Ltd grew its stake in Core Scientific by 2,631.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 46,987 shares of the company’s stock valued at $684,000 after acquiring an additional 45,267 shares during the period. Finally, Alberta Investment Management Corp acquired a new stake in Core Scientific in the 4th quarter valued at $1,820,000.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.19, for a total value of $281,900.00. Following the completion of the sale, the insider owned 2,058,895 shares in the company, valued at approximately $58,040,250.05. This represents a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 80,000 shares of company stock valued at $1,746,300. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CORZ has been the subject of a number of research analyst reports. Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. Canaccord Genuity Group set a $30.00 target price on shares of Core Scientific in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research note on Monday, April 20th. LADENBURG THALM/SH SH reduced their price target on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Core Scientific in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.49.

Core Scientific Price Performance

Core Scientific stock opened at $29.16 on Friday. Core Scientific, Inc. has a 52-week low of $10.93 and a 52-week high of $30.46. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of -25.58 and a beta of 5.49. The company has a fifty day simple moving average of $23.97 and a 200-day simple moving average of $19.26.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, May 6th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The firm had revenue of $115.24 million for the quarter, compared to analyst estimates of $117.04 million. The firm’s revenue was up 44.9% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. On average, research analysts anticipate that Core Scientific, Inc. will post 0.08 EPS 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.