Regal Partners Ltd Invests $5.41 Million in Core Scientific, Inc. (NASDAQ:CORZ)

Regal Partners Ltd acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 581,188 shares of the company’s stock, valued at approximately $5,405,000. Regal Partners Ltd owned about 0.33% of Core Scientific at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Fiduciary Alliance LLC acquired a new position in Core Scientific during the first quarter worth about $84,000. Hexagon Capital Partners LLC acquired a new position in Core Scientific during the 1st quarter worth approximately $34,000. Lindbrook Capital LLC bought a new position in Core Scientific in the 1st quarter valued at approximately $65,000. Perigon Wealth Management LLC acquired a new stake in Core Scientific in the first quarter valued at approximately $688,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Core Scientific during the first quarter worth $307,000.

Analyst Ratings Changes

CORZ has been the topic of several recent research reports. B. Riley raised Core Scientific from a “neutral” rating to a “buy” rating and raised their price objective for the company from $0.50 to $13.00 in a report on Wednesday, July 17th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a report on Tuesday. HC Wainwright upped their price objective on Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. BTIG Research lifted their target price 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, Sanford C. Bernstein began coverage on shares of Core Scientific in a research report on Wednesday, July 10th. They issued an “outperform” rating and a $17.00 price target for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Core Scientific presently has a consensus rating of “Buy” and a consensus target price of $14.71.

Core Scientific Price Performance

NASDAQ:CORZ opened at $9.40 on Wednesday. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $12.25. The company has a 50 day simple moving average of $9.98 and a two-hundred day simple moving average of $6.42.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data 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 firm had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Core Scientific, Inc. will post 0.01 earnings per share for the current year.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 7,321 shares of the company’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 sale, the insider now owns 359,877 shares in the company, valued at approximately $3,379,245.03. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total value of $37,662.30. Following the completion of the transaction, the insider now owns 393,428 shares in the company, valued at approximately $3,930,345.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the sale, the insider now directly owns 359,877 shares of the company’s stock, valued at $3,379,245.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,425 shares of company stock valued at $297,749. Corporate insiders own 32.00% of the company’s stock.

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.