Ionic Capital Management LLC Sells 60,000 Shares of Core Scientific, Inc. $CORZ

Ionic Capital Management LLC lowered its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 70.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the company’s stock after selling 60,000 shares during the quarter. Ionic Capital Management LLC’s holdings in Core Scientific were worth $364,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP increased its stake 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 valued at $25,000 after acquiring an additional 950 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after acquiring an additional 1,686 shares in the last quarter. Osaic Holdings Inc. increased 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 acquiring an additional 1,066 shares in the last quarter. Danske Bank A S bought a new stake in shares of Core Scientific in the 4th quarter valued at $36,000. Finally, State of Wyoming bought a new stake in shares of Core Scientific in the 4th quarter valued at $66,000.

Core Scientific Price Performance

CORZ opened at $28.38 on Thursday. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of -24.89 and a beta of 5.49. The firm’s fifty day moving average price is $23.49 and its two-hundred day moving average price is $19.10. Core Scientific, Inc. has a 1 year low of $10.93 and a 1 year high of $30.46.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The business had revenue of $115.24 million for the quarter, compared to analysts’ expectations of $117.04 million. Core Scientific’s revenue was up 44.9% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. As a group, equities analysts anticipate that Core Scientific, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

CORZ has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Core Scientific to a “sell” rating in a research note on Saturday, March 14th. Freedom Capital upgraded shares of Core Scientific to a “hold” rating in a research note on Monday. B. Riley Financial boosted their price target on shares of Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Core Scientific in a research note on Tuesday, March 3rd. Finally, Cantor Fitzgerald boosted their price target on shares of Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Core Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.49.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.19, for a total value of $281,900.00. Following the transaction, the insider directly owned 2,058,895 shares of the company’s stock, valued at approximately $58,040,250.05. The trade was a 0.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 80,000 shares of company stock valued at $1,746,300. 1.70% of the stock is currently owned by insiders.

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.