Advantage Alpha Capital Partners LP Trims Position in Core Scientific, Inc. $CORZ

Advantage Alpha Capital Partners LP reduced its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 19.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,569 shares of the company’s stock after selling 19,269 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Core Scientific were worth $1,392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CORZ. Nisa Investment Advisors LLC increased its stake in Core Scientific by 192.3% during the second quarter. Nisa Investment Advisors LLC now owns 4,662 shares of the company’s stock worth $80,000 after acquiring an additional 3,067 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Core Scientific during the 2nd quarter worth $243,000. Heritage Oak Wealth Advisors LLC grew its holdings in shares of Core Scientific by 2.4% during the 2nd quarter. Heritage Oak Wealth Advisors LLC now owns 753,846 shares of the company’s stock worth $12,868,000 after purchasing an additional 17,709 shares during the period. Harvest Portfolios Group Inc. increased its position in shares of Core Scientific by 81.9% during the 2nd quarter. Harvest Portfolios Group Inc. now owns 134,895 shares of the company’s stock worth $2,303,000 after purchasing an additional 60,746 shares during the last quarter. Finally, Regal Partners Ltd raised its holdings in Core Scientific by 574.1% in the 2nd quarter. Regal Partners Ltd now owns 625,213 shares of the company’s stock valued at $10,672,000 after buying an additional 532,462 shares during the period.

Insider Activity

In related news, Director Eric Stanton Weiss bought 5,000 shares of the stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the acquisition, the director owned 226,687 shares in the company, valued at approximately $4,873,770.50. This represents a 2.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Core Scientific Stock Performance

Shares of Core Scientific stock opened at $16.18 on Friday. Core Scientific, Inc. has a one year low of $6.20 and a one year high of $23.63. The business has a 50-day simple moving average of $18.05 and a 200-day simple moving average of $15.02. The company has a market cap of $5.02 billion, a PE ratio of 107.87 and a beta of 6.59.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data 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 analysts’ expectations of $107.18 million. On average, sell-side analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on CORZ. UBS Group set a $30.00 price objective on shares of Core Scientific in a report on Wednesday, October 22nd. HC Wainwright upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, October 28th. JMP Securities restated a “market perform” rating on shares of Core Scientific in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a research note on Wednesday, October 8th. Finally, Macquarie upgraded Core Scientific from a “hold” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $34.00 in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.39.

Core Scientific Profile

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.