Core Scientific, Inc. $CORZ Position Reduced by Cwm LLC

Cwm LLC cut its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 76.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,946 shares of the company’s stock after selling 6,146 shares during the quarter. Cwm LLC’s holdings in Core Scientific were worth $33,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Core Scientific by 6.2% during the first quarter. Vanguard Group Inc. now owns 20,578,100 shares of the company’s stock valued at $148,985,000 after buying an additional 1,199,448 shares in the last quarter. Fred Alger Management LLC lifted its position in shares of Core Scientific by 46.7% in the first quarter. Fred Alger Management LLC now owns 6,473,552 shares of the company’s stock worth $46,869,000 after purchasing an additional 2,059,985 shares in the last quarter. Clearline Capital LP lifted its position in shares of Core Scientific by 157.8% in the first quarter. Clearline Capital LP now owns 5,403,963 shares of the company’s stock worth $39,125,000 after purchasing an additional 3,308,100 shares in the last quarter. Situational Awareness LP purchased a new stake in shares of Core Scientific in the first quarter worth approximately $32,736,000. Finally, Vident Advisory LLC lifted its position in shares of Core Scientific by 11.5% in the first quarter. Vident Advisory LLC now owns 2,445,322 shares of the company’s stock worth $17,704,000 after purchasing an additional 253,097 shares in the last quarter.

Wall Street Analyst Weigh In

CORZ has been the subject of a number of research analyst reports. Cantor Fitzgerald increased their price target on shares of Core Scientific from $18.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. JMP Securities reissued a “market perform” rating on shares of Core Scientific in a research report on Tuesday, August 12th. Needham & Company LLC lowered shares of Core Scientific from a “moderate buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research report on Thursday, July 10th. Compass Point initiated coverage on shares of Core Scientific in a research report on Monday, September 15th. They issued a “buy” rating for the company. Finally, Arete Research raised shares of Core Scientific to a “strong-buy” rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.39.

Core Scientific Stock Performance

Shares of CORZ opened at $21.80 on Thursday. The firm has a market cap of $6.76 billion, a PE ratio of 145.34 and a beta of 6.59. The firm’s 50 day moving average price is $17.57 and its 200 day moving average price is $14.15. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $23.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Friday, October 24th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.39. The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $107.18 million. On average, sell-side analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

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.