Sandro Wealth Management LLC Acquires New Shares in Core Scientific, Inc. $CORZ

Sandro Wealth Management LLC acquired a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 48,808 shares of the company’s stock, valued at approximately $1,249,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Core Scientific by 18.7% during the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after buying an additional 5,359,710 shares during the period. Situational Awareness LP boosted its position in shares of Core Scientific by 42.5% in the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after acquiring an additional 8,575,944 shares during the period. Jericho Capital Asset Management L.P. boosted its position in shares of Core Scientific by 11.4% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock valued at $189,842,000 after acquiring an additional 1,338,796 shares during the period. Value Aligned Research Advisors LLC purchased a new position in Core Scientific during the fourth quarter valued at approximately $117,786,000. Finally, Geode Capital Management LLC increased its holdings in Core Scientific by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 7,651,002 shares of the company’s stock worth $111,417,000 after acquiring an additional 109,145 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CORZ shares. Canaccord Genuity Group raised their price target on shares of Core Scientific from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $32.00 price objective on shares of Core Scientific in a research report on Wednesday, June 3rd. Keefe, Bruyette & Woods raised Core Scientific from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $25.00 to $28.00 in a research note on Thursday, July 30th. B. Riley Financial boosted their target price on Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Compass Point restated a “buy” rating and issued a $36.00 target price on shares of Core Scientific in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.18.

Core Scientific Stock Performance

NASDAQ CORZ opened at $20.18 on Friday. Core Scientific, Inc. has a 52-week low of $13.14 and a 52-week high of $30.46. The company has a market capitalization of $6.48 billion, a P/E ratio of -4.57 and a beta of 5.59. The company has a fifty day moving average of $23.78 and a 200-day moving average of $21.00.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The company had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. As a group, analysts forecast that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $19.97, for a total value of $199,700.00. Following the completion of the transaction, the insider directly owned 1,969,101 shares in the company, valued at approximately $39,322,946.97. This represents a 0.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 100,000 shares of company stock worth $2,448,300 over the last three months. Insiders own 1.70% of the company’s stock.

Core Scientific Company 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.