Jordan Park Group LLC Lowers Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Jordan Park Group LLC lowered its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 99.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 10,434 shares of the company’s stock after selling 11,060,479 shares during the period. Jordan Park Group LLC’s holdings in Core Scientific were worth $97,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new position in Core Scientific during the second quarter valued at approximately $28,000. Aspect Partners LLC purchased a new stake in Core Scientific during the first quarter worth $29,000. Hexagon Capital Partners LLC purchased a new position in Core Scientific in the first quarter valued at $34,000. Lindbrook Capital LLC purchased a new stake in shares of Core Scientific during the 1st quarter worth about $65,000. Finally, Rise Advisors LLC purchased a new position in shares of Core Scientific in the 2nd quarter valued at about $65,000.

Core Scientific Price Performance

NASDAQ CORZ opened at $10.01 on Wednesday. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $12.25. The stock’s fifty day moving average is $10.00 and its two-hundred day moving average is $6.60.

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 company had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $128.58 million. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts anticipate that Core Scientific, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total value of $68,744.19. Following the sale, the insider now owns 359,877 shares of the company’s stock, valued at $3,379,245.03. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the transaction, the insider now directly owns 359,877 shares in the company, valued at approximately $3,379,245.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 11,582 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 value of $108,986.62. Following the completion of the transaction, the insider now directly owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. The disclosure for this sale can be found here. In the last quarter, insiders purchased 10,521 shares of company stock valued at $102,328 and sold 31,425 shares valued at $297,749. 32.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CORZ. B. Riley raised shares of Core Scientific from a “neutral” rating to a “buy” rating and lifted their price target for the company from $0.50 to $13.00 in a research note on Wednesday, July 17th. BTIG Research boosted their target price on shares of Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. HC Wainwright raised their price target on shares of Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Sanford C. Bernstein reiterated an “outperform” rating and set a $17.00 price objective on shares of Core Scientific in a research note on Tuesday. Finally, Needham & Company LLC assumed coverage on Core Scientific in a research note on Wednesday, September 4th. They issued a “buy” rating and a $16.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $14.88.

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.