Capstone Investment Advisors LLC Invests $934,000 in Core Scientific, Inc. $CORZ

Capstone Investment Advisors LLC acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 36,500 shares of the company’s stock, valued at approximately $934,000.

A number of other large investors also recently bought and sold shares of CORZ. Allworth Financial LP lifted its holdings in Core Scientific by 206.5% during the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after buying an additional 950 shares during the period. CoreCap Advisors LLC purchased a new position in shares of Core Scientific in the 2nd quarter valued at $36,000. Rakuten Securities Inc. bought a new position in shares of Core Scientific in the 2nd quarter worth $47,000. Larson Financial Group LLC raised its position in shares of Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after acquiring an additional 1,686 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after purchasing an additional 1,066 shares during the last quarter.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $17.62 on Friday. The business’s 50-day moving average is $22.10 and its 200 day moving average is $21.05. Core Scientific, Inc. has a 1 year low of $13.14 and a 1 year high of $30.46. The firm has a market capitalization of $5.66 billion, a P/E ratio of -3.99 and a beta of 5.59.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million during the quarter, compared to analyst estimates of $144.83 million. On average, analysts expect that Core Scientific, Inc. will post -1.36 EPS for the current year.

Insider Activity at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $19.97, for a total value of $199,700.00. Following the completion of the sale, the insider directly owned 1,969,101 shares in the company, valued at $39,322,946.97. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 100,000 shares of company stock valued at $2,360,300. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CORZ. Wolfe Research reaffirmed a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. Freedom Capital raised shares of Core Scientific from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating and raised their price target for the company from $25.00 to $28.00 in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a research report on Friday, July 17th. Finally, Capital One Financial set a $33.00 price objective on shares of Core Scientific in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Core Scientific presently has an average rating of “Moderate Buy” and an average price target of $32.18.

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.