CastleKnight Management LP Cuts Stake in Core Scientific, Inc. $CORZ

CastleKnight Management LP reduced its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 23.7% during the 4th quarter, HoldingsChannel reports. The fund owned 334,060 shares of the company’s stock after selling 103,900 shares during the period. CastleKnight Management LP’s holdings in Core Scientific were worth $4,864,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Core Scientific by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock worth $494,462,000 after acquiring an additional 5,359,710 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Core Scientific during the 4th quarter worth about $1,252,000. Kintayl Capital LP purchased a new position in shares of Core Scientific during the 3rd quarter worth about $10,227,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Core Scientific during the 4th quarter worth about $2,980,000. Finally, Trivest Advisors Ltd purchased a new position in shares of Core Scientific during the 3rd quarter worth about $6,557,000.

Core Scientific Stock Performance

CORZ opened at $28.38 on Thursday. The firm has a 50 day moving average price of $23.49 and a 200 day moving average price of $19.10. The company has a market cap of $9.02 billion, a PE ratio of -24.89 and a beta of 5.49. Core Scientific, Inc. has a 1 year low of $10.93 and a 1 year high of $30.46.

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

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $58,040,250.05. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 80,000 shares of company stock valued at $1,746,300 over the last three months. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Freedom Capital upgraded shares of Core Scientific to a “hold” rating in a report on Monday. Jefferies Financial Group increased their target price on shares of Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Lucid Cap Mkts raised shares of Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. LADENBURG THALM/SH SH dropped their target price 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, Wall Street Zen raised shares of Core Scientific to a “sell” rating in a research report on Saturday, March 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.49.

About Core Scientific

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.