Core Scientific, Inc. (NASDAQ:CORZ) Shares Sold by ORG Wealth Partners LLC

ORG Wealth Partners LLC lowered its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,711,823 shares of the company’s stock after selling 274,828 shares during the quarter. Core Scientific comprises about 20.3% of ORG Wealth Partners LLC’s portfolio, making the stock its biggest holding. ORG Wealth Partners LLC owned 2.95% of Core Scientific worth $63,083,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Wellington Shields & Co. LLC bought a new stake in Core Scientific in the fourth quarter worth about $26,000. First Horizon Advisors Inc. bought a new stake in Core Scientific in the fourth quarter worth about $34,000. GAMMA Investing LLC raised its position in Core Scientific by 1,722.3% in the first quarter. GAMMA Investing LLC now owns 8,565 shares of the company’s stock worth $62,000 after acquiring an additional 8,095 shares in the last quarter. Vestcor Inc bought a new stake in Core Scientific in the fourth quarter worth about $66,000. Finally, Merit Financial Group LLC bought a new stake in Core Scientific in the first quarter worth about $74,000.

Insider Activity at Core Scientific

In related news, Director Yadin Rozov bought 110,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was purchased at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the transaction, the director now directly owns 475,687 shares of the company’s stock, valued at $5,170,717.69. This trade represents a 30.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total value of $679,800.00. Following the sale, the insider now directly owns 2,100,102 shares of the company’s stock, valued at $23,794,155.66. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Core Scientific Stock Performance

Shares of NASDAQ CORZ opened at $11.90 on Thursday. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of -2.37 and a beta of 6.30. The business has a 50 day simple moving average of $9.77 and a 200 day simple moving average of $11.25. Core Scientific, Inc. has a 52 week low of $6.20 and a 52 week high of $18.63.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $79.53 million during the quarter, compared to the consensus estimate of $92.04 million. The company’s quarterly revenue was down 55.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. On average, analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

CORZ has been the topic of several recent analyst reports. Compass Point cut their price objective on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Needham & Company LLC boosted their price objective on Core Scientific from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Oppenheimer initiated coverage on Core Scientific in a report on Wednesday, May 14th. They set an “outperform” rating and a $15.00 price objective on the stock. JMP Securities initiated coverage on Core Scientific in a report on Thursday, May 22nd. They set a “market outperform” rating and a $15.00 price objective on the stock. Finally, Citigroup initiated coverage on Core Scientific in a report on Thursday, May 22nd. They set an “outperform” rating on the stock. Eighteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $18.44.

Core Scientific Profile

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.