Uniting Wealth Partners LLC Invests $752,000 in Core Scientific, Inc. $CORZ

Uniting Wealth Partners LLC bought a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,379 shares of the company’s stock, valued at approximately $752,000.

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

Core Scientific Price Performance

Shares of Core Scientific stock opened at $20.18 on Monday. The firm’s fifty day simple moving average is $23.78 and its 200-day simple moving average is $21.02. Core Scientific, Inc. has a 12 month low of $13.14 and a 12 month high of $30.46. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of -4.57 and a beta of 5.59.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share (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 anticipate that Core Scientific, Inc. will post -1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Capital One Financial set a $33.00 price target on shares of Core Scientific in a research note on Thursday, July 30th. Needham & Company LLC upped their price objective on shares of Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. B. Riley Financial raised their price objective on Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Sanford C. Bernstein reiterated an “outperform” rating and set a $32.00 target price on shares of Core Scientific in a research report on Wednesday, June 3rd. Finally, Canaccord Genuity Group boosted their target price on Core Scientific from $30.00 to $36.00 and gave the company a “buy” rating 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.18.

Insider Activity

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 1,969,101 shares of the company’s stock, valued at approximately $39,322,946.97. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 100,000 shares of company stock worth $2,448,300 over the last 90 days. Company insiders own 1.70% of the company’s stock.

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.