Hudson Bay Capital Management LP Sells 54,534 Shares of Core Scientific, Inc. $CORZ

Hudson Bay Capital Management LP reduced its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 24.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,466 shares of the company’s stock after selling 54,534 shares during the period. Hudson Bay Capital Management LP owned approximately 0.05% of Core Scientific worth $3,058,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CORZ. AQR Capital Management LLC boosted its stake in Core Scientific by 106.1% in the 1st quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock worth $2,052,000 after purchasing an additional 145,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Core Scientific by 180.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock worth $8,032,000 after buying an additional 714,388 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Core Scientific by 396.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,731 shares of the company’s stock valued at $64,000 after acquiring an additional 2,980 shares during the period. Police & Firemen s Retirement System of New Jersey grew its stake in Core Scientific by 64.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 62,537 shares of the company’s stock valued at $1,068,000 after acquiring an additional 24,569 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Core Scientific by 200.0% during the second quarter. Cetera Investment Advisers now owns 38,819 shares of the company’s stock valued at $663,000 after acquiring an additional 25,878 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CORZ shares. Wall Street Zen raised shares of Core Scientific to a “sell” rating in a report on Saturday, March 14th. LADENBURG THALM/SH SH decreased their price target on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. BTIG Research upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, January 6th. Canaccord Genuity Group lifted their price objective on Core Scientific from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Citizens Jmp upgraded Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.84.

Core Scientific Trading Down 4.1%

Shares of NASDAQ CORZ opened at $15.81 on Friday. The stock’s 50-day moving average is $17.35 and its 200 day moving average is $17.12. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 13.51 and a beta of 6.87. Core Scientific, Inc. has a 1-year low of $6.20 and a 1-year high of $23.63.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $79.76 million for the quarter, compared to the consensus estimate of $118.45 million. The firm’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.69) earnings per share. On average, analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

About Core Scientific

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.