Core Scientific, Inc. $CORZ Shares Sold by ParaFi Capital LP

ParaFi Capital LP cut its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 83.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,555 shares of the company’s stock after selling 424,458 shares during the quarter. Core Scientific comprises about 0.6% of ParaFi Capital LP’s investment portfolio, making the stock its 11th biggest position. ParaFi Capital LP’s holdings in Core Scientific were worth $2,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CORZ. Vanguard Group Inc. grew its holdings in Core Scientific by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after purchasing an additional 5,359,710 shares in the last quarter. Bank of America Corp DE boosted its position in Core Scientific by 412.5% in the 1st quarter. Bank of America Corp DE now owns 4,806,363 shares of the company’s stock valued at $71,903,000 after buying an additional 3,868,535 shares during the last quarter. Oasis Management Co Ltd. purchased a new position in Core Scientific in the 4th quarter valued at about $38,493,000. California State Teachers Retirement System grew its stake in shares of Core Scientific by 22.1% during the first quarter. California State Teachers Retirement System now owns 288,936 shares of the company’s stock valued at $4,322,000 after acquiring an additional 52,260 shares in the last quarter. Finally, Mercuria Capital Strategies LLC acquired a new stake in shares of Core Scientific during the fourth quarter valued at about $2,718,000.

Insider Activity at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $17.45, for a total value of $174,500.00. Following the completion of the sale, the insider owned 1,937,896 shares of the company’s stock, valued at $33,816,285.20. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric Stanton Weiss bought 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average price of $19.19 per share, with a total value of $134,330.00. Following the transaction, the director directly owned 259,262 shares in the company, valued at $4,975,237.78. This represents a 2.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 100,000 shares of company stock worth $2,360,300 over the last ninety days. 1.70% of the stock is currently owned by corporate insiders.

Core Scientific Stock Performance

Shares of CORZ opened at $16.81 on Thursday. Core Scientific, Inc. has a 1 year low of $13.14 and a 1 year high of $30.46. The company has a market cap of $5.40 billion, a price-to-earnings ratio of -3.80 and a beta of 5.48. The firm has a fifty day moving average of $21.11 and a 200-day moving average of $21.00.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. Analysts predict that Core Scientific, Inc. will post -1.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CORZ. Lucid Cap Mkts upgraded Core Scientific to a “strong-buy” rating in a report on Friday, June 12th. B. Riley Financial raised their price target on shares of Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Sanford C. Bernstein restated an “outperform” rating and issued a $32.00 price target on shares of Core Scientific in a research note on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a report on Friday, July 17th. Finally, Compass Point reiterated a “buy” rating and set a $36.00 price objective on shares of Core Scientific in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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.