Fiduciary Alliance LLC Reduces Stock Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Fiduciary Alliance LLC lowered its position in Core Scientific, Inc. (NASDAQ:CORZ) by 5.2% in the third quarter, HoldingsChannel reports. The firm owned 21,948 shares of the company’s stock after selling 1,210 shares during the period. Fiduciary Alliance LLC’s holdings in Core Scientific were worth $260,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Core Scientific in the second quarter valued at about $28,000. Aspect Partners LLC purchased a new position in Core Scientific during the first quarter worth about $29,000. Sunbelt Securities Inc. purchased a new position in Core Scientific during the second quarter worth about $33,000. Hexagon Capital Partners LLC purchased a new position in Core Scientific during the first quarter worth about $34,000. Finally, Rise Advisors LLC purchased a new position in Core Scientific during the second quarter worth about $65,000.

Core Scientific Stock Down 1.9 %

Shares of NASDAQ:CORZ opened at $12.97 on Tuesday. The firm’s 50 day moving average price is $10.90 and its 200 day moving average price is $8.07. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $13.42.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The company had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $128.58 million. The business’s revenue was up 11.2% on a year-over-year basis. Analysts expect that Core Scientific, Inc. will post 0.01 EPS for the current fiscal year.

Insider Activity at Core Scientific

In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jarrod M. Patten acquired 4,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were bought at an average price 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Denise Marie Brucia Sterling sold 8,752 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $82,356.32. Following the sale, the chief financial officer now directly owns 122,217 shares in the company, valued at approximately $1,150,061.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 12,761 shares of company stock valued at $127,080 over the last 90 days. 32.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CORZ shares. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $14.50 target price on shares of Core Scientific in a research note on Tuesday, July 2nd. Macquarie started coverage on shares of Core Scientific in a research note on Wednesday, September 25th. They set an “outperform” rating and a $16.00 target price for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.00 target price on shares of Core Scientific in a research note on Friday. BTIG Research increased their price target on shares of Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a research report on Thursday, October 3rd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $15.27.

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.