ACR Alpine Capital Research LLC Cuts Holdings in Core Scientific, Inc. $CORZ

ACR Alpine Capital Research LLC reduced its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 33.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,000 shares of the company’s stock after selling 78,000 shares during the quarter. Core Scientific comprises 0.0% of ACR Alpine Capital Research LLC’s investment portfolio, making the stock its 28th biggest holding. ACR Alpine Capital Research LLC’s holdings in Core Scientific were worth $2,781,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. HHM Wealth Advisors LLC lifted its holdings in Core Scientific by 96.5% in the second quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock valued at $33,000 after acquiring an additional 946 shares during the period. Osaic Holdings Inc. increased its holdings 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 in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Core Scientific by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock valued at $46,000 after purchasing an additional 1,092 shares during the period. Main Management ETF Advisors LLC boosted its holdings in Core Scientific by 1.6% during the second quarter. Main Management ETF Advisors LLC now owns 82,075 shares of the company’s stock worth $1,401,000 after buying an additional 1,332 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Core Scientific by 61.9% during the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock worth $67,000 after buying an additional 1,507 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Macquarie raised Core Scientific from a “hold” rating to an “outperform” rating and boosted their price target for the stock from $18.00 to $34.00 in a research note on Friday, October 31st. Jefferies Financial Group set a $24.00 target price on Core Scientific and gave the stock a “buy” rating in a research report on Tuesday, October 28th. HC Wainwright raised Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, October 28th. UBS Group set a $30.00 price target on Core Scientific in a research note on Wednesday, October 22nd. Finally, Sanford C. Bernstein boosted their price objective on shares of Core Scientific from $17.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Core Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $23.53.

Core Scientific Trading Down 0.7%

Shares of CORZ stock opened at $18.08 on Friday. The firm has a 50-day moving average price of $16.29 and a 200 day moving average price of $16.15. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $23.63. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 120.54 and a beta of 6.87.

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

Insider Transactions at Core Scientific

In other news, Director Eric Stanton Weiss bought 5,000 shares of the stock in a transaction on Tuesday, November 4th. The stock was purchased at an average cost of $21.50 per share, with a total value 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 filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

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.