Kazazian Asset Management LLC Has $256,000 Stock Position in Core Scientific, Inc. $CORZ

Kazazian Asset Management LLC cut its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 58.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the company’s stock after selling 21,000 shares during the period. Kazazian Asset Management LLC’s holdings in Core Scientific were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Situational Awareness LP bought a new position in shares of Core Scientific in the 1st quarter valued at approximately $32,736,000. Clearline Capital LP raised its stake in shares of Core Scientific by 157.8% in the first quarter. Clearline Capital LP now owns 5,403,963 shares of the company’s stock valued at $39,125,000 after purchasing an additional 3,308,100 shares in the last quarter. Fred Alger Management LLC lifted its position in Core Scientific by 46.7% in the first quarter. Fred Alger Management LLC now owns 6,473,552 shares of the company’s stock worth $46,869,000 after purchasing an additional 2,059,985 shares during the period. Geode Capital Management LLC increased its holdings in Core Scientific by 26.2% in the 2nd quarter. Geode Capital Management LLC now owns 7,371,211 shares of the company’s stock valued at $125,842,000 after buying an additional 1,530,466 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Core Scientific by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 20,578,100 shares of the company’s stock valued at $148,985,000 after buying an additional 1,199,448 shares in the last quarter.

Core Scientific Trading Down 1.5%

Shares of CORZ stock opened at $14.93 on Monday. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 99.54 and a beta of 6.59. The firm’s 50 day moving average is $18.09 and its 200-day moving average is $14.70. Core Scientific, Inc. has a 1 year low of $6.20 and a 1 year high of $23.63.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Friday, October 24th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.39. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $107.18 million. On average, equities research analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Eric Stanton Weiss purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the completion of the acquisition, the director directly owned 226,687 shares in the company, valued at approximately $4,873,770.50. The trade was a 2.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CORZ has been the topic of a number of analyst reports. Macquarie raised shares of Core Scientific from a “hold” rating to an “outperform” rating and upped their target price for the company from $18.00 to $34.00 in a research note on Friday, October 31st. HC Wainwright raised Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, October 28th. Roth Capital reissued a “buy” rating on shares of Core Scientific in a report on Friday, October 31st. B. Riley upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, October 22nd. Finally, Arete began coverage on shares of Core Scientific in a research note on Tuesday, July 22nd. They set a “buy” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.39.

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.