SG Americas Securities LLC Lowers Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

SG Americas Securities LLC lowered its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 95.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,701 shares of the company’s stock after selling 182,938 shares during the quarter. SG Americas Securities LLC’s holdings in Core Scientific were worth $115,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CORZ. Doliver Advisors LP bought a new position in shares of Core Scientific in the third quarter valued at approximately $124,000. Sanctuary Advisors LLC purchased a new position in shares of Core Scientific during the second quarter worth approximately $140,000. Heritage Oak Wealth Advisors LLC purchased a new position in shares of Core Scientific in the second quarter worth $2,334,000. Point72 Asset Management L.P. purchased a new position in shares of Core Scientific in the second quarter worth $4,222,000. Finally, Sunbelt Securities Inc. purchased a new position in Core Scientific during the 2nd quarter valued at $33,000.

Core Scientific Price Performance

Core Scientific stock opened at $13.37 on Friday. The firm has a 50 day moving average of $11.57 and a 200 day moving average of $8.65. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $14.06.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The business had revenue of $141.10 million for the quarter, compared to analyst estimates of $128.58 million. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts predict that Core Scientific, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CORZ shares. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a research report on Thursday, October 3rd. HC Wainwright increased their price objective on shares of Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Needham & Company LLC upped their target price on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, September 10th. Finally, Canaccord Genuity Group started coverage on shares of Core Scientific in a research note on Monday, September 23rd. They issued a “buy” rating and a $16.00 price objective on the stock. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $16.50.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Jarrod M. Patten bought 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average cost of $9.70 per share, with a total value of $38,800.00. Following the completion of the acquisition, the director now owns 279,239 shares in the company, valued at $2,708,618.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jarrod M. Patten purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average cost of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the transaction, the director now directly owns 279,239 shares in the company, valued at $2,708,618.30. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jarrod M. Patten purchased 5,021 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $9.68 per share, with a total value of $48,603.28. Following the completion of the transaction, the director now owns 285,760 shares of the company’s stock, valued at $2,766,156.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 12,761 shares of company stock valued at $127,080 in the last three months. 32.00% of the stock is currently owned by corporate insiders.

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.