Core Scientific, Inc. (NASDAQ:CORZ) Position Boosted by LPL Financial LLC

LPL Financial LLC lifted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 437,463 shares of the company’s stock after purchasing an additional 16,250 shares during the period. LPL Financial LLC owned about 0.15% of Core Scientific worth $3,167,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. increased its stake in shares of Core Scientific by 229.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 37,501 shares of the company’s stock valued at $272,000 after acquiring an additional 26,135 shares during the period. Summit Trail Advisors LLC bought a new stake in Core Scientific during the first quarter worth approximately $357,000. Deutsche Bank AG raised its holdings in Core Scientific by 53.8% during the fourth quarter. Deutsche Bank AG now owns 165,032 shares of the company’s stock worth $2,319,000 after purchasing an additional 57,742 shares in the last quarter. Millennium Management LLC bought a new stake in Core Scientific during the fourth quarter worth approximately $1,335,000. Finally, Teacher Retirement System of Texas bought a new stake in Core Scientific during the first quarter worth approximately $234,000.

Core Scientific Trading Up 2.1%

Shares of CORZ stock opened at $14.13 on Friday. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month high of $18.63. The stock has a market cap of $4.32 billion, a PE ratio of -25.23 and a beta of 6.60. The company’s fifty day moving average price is $13.80 and its 200-day moving average price is $11.01.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Friday, August 8th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $78.63 million during the quarter, compared to analysts’ expectations of $82.09 million. Core Scientific’s revenue for the quarter was down 44.3% on a year-over-year basis. On average, sell-side analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. BTIG Research cut Core Scientific from a “strong-buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a report on Monday, July 7th. JMP Securities reaffirmed a “market perform” rating on shares of Core Scientific in a report on Tuesday, August 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Core Scientific in a report on Monday, July 7th. Roth Mkm reaffirmed a “buy” rating and issued a $20.00 price target on shares of Core Scientific in a report on Thursday, June 26th. Finally, Barclays cut Core Scientific to an “underweight” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.32.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total value of $679,800.00. Following the completion of the transaction, the insider directly owned 2,100,102 shares in the company, valued at $23,794,155.66. This represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Yadin Rozov purchased 110,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were bought at an average price of $10.87 per share, for a total transaction of $1,195,700.00. Following the acquisition, the director directly owned 475,687 shares in the company, valued at $5,170,717.69. This trade represents a 30.08% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 117,759 shares of company stock valued at $1,391,434. 1.40% of the stock is currently owned by corporate insiders.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.