Cresset Asset Management LLC Raises Stake in Core Scientific, Inc. $CORZ

Cresset Asset Management LLC boosted its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 316.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 626,257 shares of the company’s stock after acquiring an additional 475,879 shares during the period. Cresset Asset Management LLC owned about 0.21% of Core Scientific worth $10,690,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. HHM Wealth Advisors LLC grew its stake in shares of Core Scientific by 96.5% during the second quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock worth $33,000 after purchasing an additional 946 shares in the last quarter. State of Wyoming purchased a new position in Core Scientific in the first quarter valued at approximately $34,000. Advisors Asset Management Inc. raised its holdings in Core Scientific by 68.3% during the second quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock worth $46,000 after purchasing an additional 1,092 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Core Scientific during the 2nd quarter worth approximately $51,000. Finally, US Bancorp DE boosted its holdings in shares of Core Scientific by 23.7% in the 1st quarter. US Bancorp DE now owns 8,682 shares of the company’s stock valued at $63,000 after buying an additional 1,663 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CORZ shares. UBS Group set a $30.00 price target on shares of Core Scientific in a research report on Wednesday, October 22nd. B. Riley raised Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, October 22nd. Jefferies Financial Group set a $24.00 price target on Core Scientific and gave the stock a “buy” rating in a research report on Tuesday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Core Scientific in a research note on Tuesday, August 12th. Finally, Macquarie upgraded shares of Core Scientific from a “hold” rating to an “outperform” rating and raised their target price for the stock from $18.00 to $34.00 in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.39.

Insider Activity at Core Scientific

In other news, Director Eric Stanton Weiss bought 5,000 shares of Core Scientific stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the purchase, the director owned 226,687 shares of the company’s stock, valued at approximately $4,873,770.50. The trade was a 2.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Core Scientific Trading Up 0.2%

Core Scientific stock opened at $17.11 on Friday. The stock has a 50 day moving average of $18.02 and a two-hundred day moving average of $15.31. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $23.63. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 114.07 and a beta of 6.77.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Friday, October 24th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.39. The company had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $107.18 million. Equities analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

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.