Uniting Wealth Partners LLC Takes Position in Core Scientific, Inc. $CORZ

Uniting Wealth Partners LLC purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the second quarter, HoldingsChannel reports. The firm purchased 29,379 shares of the company’s stock, valued at approximately $752,000.

Several other large investors have also recently added to or reduced their stakes in CORZ. Allworth Financial LP lifted its position in Core Scientific by 206.5% in the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after purchasing an additional 950 shares during the period. Larson Financial Group LLC boosted its holdings in 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 purchasing an additional 1,686 shares in the last quarter. Osaic Holdings Inc. increased its position in Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after purchasing an additional 1,066 shares during the period. Danske Bank A S purchased a new position in shares of Core Scientific during the 4th quarter worth approximately $36,000. Finally, CoreCap Advisors LLC purchased a new position in shares of Core Scientific during the 2nd quarter worth approximately $36,000.

Core Scientific Price Performance

NASDAQ CORZ opened at $20.18 on Monday. The business has a 50 day moving average price of $23.78 and a 200 day moving average price of $21.02. The company has a market capitalization of $6.48 billion, a P/E ratio of -4.57 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 posted its earnings results on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The business had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. On average, research analysts expect that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction on Monday, August 10th. The stock was sold at an average price of $19.97, for a total transaction of $199,700.00. Following the completion of the transaction, the insider 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 100,000 shares of company stock worth $2,448,300. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

CORZ has been the subject of a number of recent analyst reports. Loop Capital set a $40.00 target price on Core Scientific in a report on Friday, June 12th. Canaccord Genuity Group upped their price target on shares of Core Scientific from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. B. Riley Financial increased their price target on shares of Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a research note on Friday, July 17th. Finally, Compass Point reissued a “buy” rating and set a $36.00 price objective on shares of Core Scientific in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.18.

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.