Shikiar Asset Management Inc. Has $303,000 Stock Position in Core Scientific, Inc. $CORZ

Shikiar Asset Management Inc. lowered its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 61.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 20,275 shares of the company’s stock after selling 32,675 shares during the period. Shikiar Asset Management Inc.’s holdings in Core Scientific were worth $303,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CORZ. AQR Capital Management LLC increased its position in shares of Core Scientific by 106.1% during the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock worth $2,052,000 after acquiring an additional 145,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Core Scientific by 180.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock worth $8,032,000 after purchasing an additional 714,388 shares during the period. Cetera Investment Advisers boosted its stake in Core Scientific by 200.0% in the 2nd quarter. Cetera Investment Advisers now owns 38,819 shares of the company’s stock worth $663,000 after purchasing an additional 25,878 shares during the period. Franklin Resources Inc. acquired a new position in Core Scientific in the 2nd quarter worth $181,000. Finally, Russell Investments Group Ltd. increased its holdings in Core Scientific by 61.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock worth $67,000 after purchasing an additional 1,507 shares in the last quarter.

Core Scientific Trading Down 1.3%

Core Scientific stock opened at $25.59 on Wednesday. Core Scientific, Inc. has a 1-year low of $12.42 and a 1-year high of $30.46. The company has a fifty day simple moving average of $25.17 and a 200 day simple moving average of $19.79. The company has a market cap of $8.13 billion, a P/E ratio of -22.45 and a beta of 5.49.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. LADENBURG THALM/SH SH dropped their price target on Core Scientific from $24.50 to $23.75 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Freedom Capital raised Core Scientific to a “hold” rating in a research report on Monday, June 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a report on Monday, April 20th. BTIG Research lifted their target price on Core Scientific from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Core Scientific to a “sell” rating in a research note on Saturday, March 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.78.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $29.29, for a total value of $292,900.00. Following the sale, the insider owned 2,048,895 shares of the company’s stock, valued at approximately $60,012,134.55. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 80,000 shares of company stock valued at $1,886,700. 1.70% of the stock is owned by company insiders.

Core Scientific 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.