Sandro Wealth Management LLC Acquires Shares of 48,808 Core Scientific, Inc. $CORZ

Sandro Wealth Management LLC bought a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 48,808 shares of the company’s stock, valued at approximately $1,249,000.

A number of other hedge funds also recently made changes to their positions in CORZ. Xponance LLC boosted its holdings in shares of Core Scientific by 2.5% in the 4th quarter. Xponance LLC now owns 22,896 shares of the company’s stock worth $333,000 after buying an additional 562 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Core Scientific by 0.7% during the second quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company’s stock worth $2,418,000 after buying an additional 700 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in Core Scientific by 5.2% during the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after buying an additional 766 shares during the last quarter. GAMMA Investing LLC raised its position in Core Scientific by 34.5% in the second quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock worth $78,000 after acquiring an additional 782 shares during the period. Finally, Bank of Montreal Can raised its position in Core Scientific by 4.2% in the fourth quarter. Bank of Montreal Can now owns 21,592 shares of the company’s stock worth $314,000 after acquiring an additional 869 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CORZ shares. B. Riley Financial boosted their target price on shares of Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Compass Point restated a “buy” rating and set a $36.00 price target on shares of Core Scientific in a research note on Wednesday, July 29th. Capital One Financial set a $33.00 price target on shares of Core Scientific in a report on Thursday, July 30th. Lucid Cap Mkts upgraded Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. Finally, Freedom Capital raised Core Scientific from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. 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. According to MarketBeat, Core Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $32.18.

Insider Activity at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $19.97, for a total transaction of $199,700.00. Following the sale, the insider directly owned 1,969,101 shares in the company, valued at approximately $39,322,946.97. This represents a 0.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 100,000 shares of company stock worth $2,448,300. Corporate insiders own 1.70% of the company’s stock.

Core Scientific Stock Performance

Shares of Core Scientific stock opened at $20.18 on Friday. The stock 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 52-week low of $13.14 and a 52-week high of $30.46. The stock’s 50-day simple moving average is $23.78 and its 200 day simple moving average is $21.00.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The business had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $144.83 million. Equities research analysts forecast that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

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.