Perigon Wealth Management LLC Decreases Stock Holdings in Core Scientific, Inc. $CORZ

Perigon Wealth Management LLC lowered its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 28.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,881 shares of the company’s stock after selling 33,600 shares during the quarter. Perigon Wealth Management LLC’s holdings in Core Scientific were worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after buying an additional 950 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after purchasing an additional 1,066 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Core Scientific by 61.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after purchasing an additional 1,507 shares during the last quarter. Athos Capital Ltd purchased a new position in shares of Core Scientific in the 3rd quarter worth approximately $76,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Core Scientific during the 3rd quarter valued at approximately $90,000.

Core Scientific Price Performance

CORZ stock opened at $16.23 on Monday. The business’s fifty day simple moving average is $16.85 and its two-hundred day simple moving average is $17.19. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $23.63. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 13.87 and a beta of 6.34.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Monday, March 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $79.76 million for the quarter, compared to analysts’ expectations of $118.45 million. The firm’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.69) earnings per share. Research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $15.25, for a total value of $152,500.00. Following the completion of the sale, the insider directly owned 2,047,089 shares of the company’s stock, valued at $31,218,107.25. The trade was a 0.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CORZ shares. Citizens Jmp upgraded Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Thursday, December 18th. Cantor Fitzgerald cut their price objective on shares of Core Scientific from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of Core Scientific to a “sell” rating in a research note on Saturday, March 14th. Zacks Research upgraded shares of Core Scientific from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Finally, LADENBURG THALM/SH SH dropped their price target on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.84.

Core Scientific Profile

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.