Sanctuary Advisors LLC Buys New Shares in Core Scientific, Inc. $CORZ

Sanctuary Advisors LLC purchased a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 31,928 shares of the company’s stock, valued at approximately $817,000.

Several other hedge funds have also recently added to or reduced their stakes in CORZ. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Core Scientific during the 2nd quarter valued at about $41,951,000. CFO4Life Group LLC purchased a new stake in Core Scientific in the second quarter worth approximately $334,000. Quantbot Technologies LP purchased a new stake in Core Scientific in the second quarter worth approximately $3,690,000. Capital CS Group LLC bought a new position in Core Scientific during the second quarter valued at approximately $642,000. Finally, Rakuten Securities Inc. bought a new position in Core Scientific during the second quarter valued at approximately $47,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CORZ shares. Loop Capital set a $40.00 price objective on shares of Core Scientific in a report on Friday, June 12th. Keefe, Bruyette & Woods raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and increased their target price for the company from $25.00 to $28.00 in a report on Thursday, July 30th. Wolfe Research reaffirmed a “buy” rating on shares of Core Scientific in a report on Wednesday, July 29th. Capital One Financial set a $33.00 target price on shares of Core Scientific in a research report on Thursday, July 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.18.

Insider Activity at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction on Monday, August 10th. The shares were sold at an average price of $19.97, for a total value of $199,700.00. Following the transaction, the insider directly owned 1,969,101 shares of the company’s stock, valued at $39,322,946.97. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 100,000 shares of company stock valued at $2,360,300 over the last quarter. 1.70% of the stock is owned by insiders.

Core Scientific Price Performance

CORZ opened at $16.51 on Friday. The stock’s 50 day simple moving average is $21.85 and its 200 day simple moving average is $21.02. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of -3.74 and a beta of 5.59. Core Scientific, Inc. has a 1 year low of $13.14 and a 1 year high of $30.46.

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

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.