16,876 Shares in Core Scientific, Inc. (NASDAQ:CORZ) Acquired by Childress Capital Advisors LLC

Childress Capital Advisors LLC acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,876 shares of the company’s stock, valued at approximately $122,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CORZ. Wellington Shields & Co. LLC purchased a new stake in Core Scientific in the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. purchased a new stake in Core Scientific in the 4th quarter worth approximately $34,000. GAMMA Investing LLC lifted its position in Core Scientific by 1,722.3% in the 1st quarter. GAMMA Investing LLC now owns 8,565 shares of the company’s stock worth $62,000 after buying an additional 8,095 shares in the last quarter. Vestcor Inc purchased a new stake in Core Scientific in the 4th quarter worth approximately $66,000. Finally, Merit Financial Group LLC purchased a new stake in Core Scientific in the 1st quarter worth approximately $74,000.

Insider Transactions at Core Scientific

In related news, Director Yadin Rozov bought 110,000 shares of Core Scientific stock in a transaction dated Wednesday, May 28th. The shares were bought at an average cost of $10.87 per share, for a total transaction of $1,195,700.00. Following the completion of the transaction, the director now owns 475,687 shares of the company’s stock, valued at approximately $5,170,717.69. This trade represents a 30.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Todd M. Duchene sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $12.31, for a total transaction of $615,500.00. Following the transaction, the insider now owns 2,050,102 shares in the company, valued at $25,236,755.62. The trade was a 2.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald cut their target price on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC lifted their price objective on Core Scientific from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Citizens Jmp upgraded shares of Core Scientific to a “strong-buy” rating and set a $15.00 price objective on the stock in a report on Thursday, May 22nd. HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a report on Tuesday, March 11th. Finally, Oppenheimer initiated coverage on shares of Core Scientific in a research report on Wednesday, May 14th. They set an “outperform” rating and a $15.00 target price on the stock. Eighteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $18.44.

Core Scientific Stock Down 0.3%

NASDAQ:CORZ opened at $11.86 on Monday. The firm has a market cap of $3.53 billion, a PE ratio of -2.36 and a beta of 6.33. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month high of $18.63. The company’s 50-day moving average price is $9.96 and its two-hundred day moving average price is $11.11.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $79.53 million during the quarter, compared to analyst estimates of $92.04 million. Core Scientific’s quarterly revenue was down 55.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. On average, research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

About Core Scientific

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.