United Capital Financial Advisors LLC Buys New Stake in Core Scientific, Inc. $CORZ

United Capital Financial Advisors LLC purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 59,908 shares of the company’s stock, valued at approximately $1,533,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance LLC lifted its holdings in shares of Core Scientific by 2.5% in the 4th quarter. Xponance LLC now owns 22,896 shares of the company’s stock valued at $333,000 after buying an additional 562 shares during the period. Handelsbanken Fonder AB grew its holdings in Core Scientific by 0.7% during the second quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company’s stock worth $2,418,000 after acquiring an additional 700 shares during the period. Orion Porfolio Solutions LLC grew its holdings in Core Scientific by 5.2% during the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after acquiring an additional 766 shares during the period. GAMMA Investing LLC raised its position in Core Scientific by 34.5% during the second quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock valued at $78,000 after acquiring an additional 782 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Core Scientific by 4.2% during the fourth quarter. Bank of Montreal Can now owns 21,592 shares of the company’s stock valued at $314,000 after acquiring an additional 869 shares in the last quarter.

Analyst Ratings Changes

Several research firms have commented on CORZ. Wolfe Research restated a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. Needham & Company LLC boosted their target price on shares of Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Jefferies Financial Group increased their price target on shares of Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Loop Capital set a $40.00 price objective on shares of Core Scientific in a report on Friday, June 12th. Finally, Lucid Cap Mkts raised shares of Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.18.

Core Scientific Price Performance

CORZ opened at $16.51 on Friday. The company’s 50 day simple moving average is $21.85 and its two-hundred day simple moving average is $21.02. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of -3.74 and a beta of 5.59. Core Scientific, Inc. has a 1-year low of $13.14 and a 1-year high of $30.46.

Core Scientific (NASDAQ:CORZ) last announced 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 firm had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $144.83 million. On average, equities analysts anticipate that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $19.97, for a total transaction of $199,700.00. Following the completion of the transaction, the insider owned 1,969,101 shares of the company’s stock, valued at approximately $39,322,946.97. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 100,000 shares of company stock valued at $2,360,300 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

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.