Squarepoint Ops LLC Buys 1,049,678 Shares of Core Scientific, Inc. $CORZ

Squarepoint Ops LLC grew its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 64.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,686,177 shares of the company’s stock after purchasing an additional 1,049,678 shares during the period. Squarepoint Ops LLC’s holdings in Core Scientific were worth $68,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System increased its position in Core Scientific by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 69,666 shares of the company’s stock valued at $1,783,000 after buying an additional 1,533 shares in the last quarter. Nykredit A S bought a new stake in shares of Core Scientific during the second quarter valued at approximately $263,000. Parkside Financial Bank & Trust raised its position in shares of Core Scientific by 1,371.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company’s stock worth $30,000 after purchasing an additional 1,097 shares during the period. Corient Private Wealth LP bought a new position in shares of Core Scientific in the 2nd quarter worth $353,000. Finally, Amundi lifted its holdings in shares of Core Scientific by 62.2% in the 2nd quarter. Amundi now owns 16,572 shares of the company’s stock worth $424,000 after purchasing an additional 6,358 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $25.00 to $28.00 in a report on Thursday, July 30th. Compass Point restated a “buy” rating and issued a $36.00 target price on shares of Core Scientific in a report on Wednesday, July 29th. BTIG Research reaffirmed a “buy” rating and issued a $38.00 price target on shares of Core Scientific in a research report on Tuesday, July 28th. Freedom Capital raised Core Scientific from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Finally, Wolfe Research reissued a “buy” rating on shares of Core Scientific in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Core Scientific presently has an average rating of “Moderate Buy” and an average price target of $32.18.

Core Scientific Price Performance

NASDAQ CORZ opened at $18.73 on Wednesday. The company has a fifty day moving average price of $20.44 and a 200-day moving average price of $21.02. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of -4.24 and a beta of 5.48. Core Scientific, Inc. has a 1 year low of $13.35 and a 1 year high of $30.46.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The company had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. On average, research analysts anticipate that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

Insider Buying and Selling at Core Scientific

In other news, Director Elizabeth Crain bought 6,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average price of $18.33 per share, with a total value of $109,980.00. Following the transaction, the director directly owned 71,348 shares in the company, valued at $1,307,808.84. This represents a 9.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd DuChene sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $17.45, for a total value of $174,500.00. Following the completion of the transaction, the insider owned 1,937,896 shares in the company, valued at $33,816,285.20. The trade was a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 90,000 shares of company stock worth $2,091,800. 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.