DeepCurrents Investment Group LLC Raises Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

DeepCurrents Investment Group LLC increased its position in Core Scientific, Inc. (NASDAQ:CORZ) by 157.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 255,162 shares of the company’s stock after purchasing an additional 156,162 shares during the period. DeepCurrents Investment Group LLC owned 0.14% of Core Scientific worth $2,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in Core Scientific during the 2nd quarter worth $28,000. Aspect Partners LLC acquired a new stake in shares of Core Scientific during the first quarter worth about $29,000. Hexagon Capital Partners LLC acquired a new stake in shares of Core Scientific during the first quarter worth about $34,000. Lindbrook Capital LLC purchased a new position in shares of Core Scientific during the first quarter worth about $65,000. Finally, Rise Advisors LLC acquired a new position in Core Scientific in the 2nd quarter valued at about $65,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CORZ. B. Riley upgraded Core Scientific from a “neutral” rating to a “buy” rating and lifted their target price for the company from $0.50 to $13.00 in a research note on Wednesday, July 17th. HC Wainwright lifted 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price objective on shares of Core Scientific in a research note on Tuesday, September 3rd. Sanford C. Bernstein restated an “outperform” rating and issued a $17.00 target price 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. They set a “buy” rating and a $16.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.18.

Core Scientific Trading Down 4.2 %

Shares of NASDAQ CORZ opened at $12.35 on Thursday. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $12.95. The firm has a 50-day moving average price of $10.26 and a 200 day moving average price of $7.23.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results 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 firm had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. Core Scientific’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts anticipate that Core Scientific, Inc. will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Core Scientific news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.41, for a total value of $82,356.32. Following the sale, the chief financial officer now owns 122,217 shares of the company’s stock, valued at $1,150,061.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Core Scientific news, CFO Denise Marie Brucia Sterling sold 8,752 shares of Core Scientific stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $82,356.32. Following the completion of the transaction, the chief financial officer now owns 122,217 shares in the company, valued at $1,150,061.97. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the sale, the insider now directly owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 12,761 shares of company stock valued at $127,080. 32.00% of the stock is owned by insiders.

Core Scientific Company 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.