KLP Kapitalforvaltning AS Raises Stock Holdings in Core Scientific, Inc. $CORZ

KLP Kapitalforvaltning AS boosted its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 88.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,500 shares of the company’s stock after buying an additional 46,700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Core Scientific were worth $1,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Core Scientific by 229.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 37,501 shares of the company’s stock valued at $272,000 after buying an additional 26,135 shares during the period. Heritage Oak Wealth Advisors LLC lifted its holdings in shares of Core Scientific by 2.4% during the 2nd quarter. Heritage Oak Wealth Advisors LLC now owns 753,846 shares of the company’s stock valued at $12,868,000 after buying an additional 17,709 shares during the period. Summit Trail Advisors LLC bought a new position in shares of Core Scientific during the 1st quarter valued at $357,000. Anson Funds Management LP bought a new position in shares of Core Scientific during the 1st quarter valued at $689,000. Finally, Pacific Point Advisors LLC bought a new position in shares of Core Scientific during the 2nd quarter valued at $1,024,000.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays cut Core Scientific to an “underweight” rating in a report on Tuesday, July 8th. HC Wainwright restated a “neutral” rating on shares of Core Scientific in a research note on Monday, August 11th. Compass Point started coverage on Core Scientific in a research note on Monday, September 15th. They issued a “buy” rating for the company. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Friday, June 27th. Finally, Craig Hallum lowered Core Scientific from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.71.

Core Scientific Stock Performance

Shares of CORZ stock opened at $18.52 on Monday. The firm has a market capitalization of $5.69 billion, a PE ratio of -33.07 and a beta of 6.58. The stock has a fifty day simple moving average of $15.47 and a two-hundred day simple moving average of $12.54. Core Scientific, Inc. has a 52-week low of $6.20 and a 52-week high of $19.31.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $78.63 million for the quarter, compared to analysts’ expectations of $82.09 million. The business’s revenue for the quarter was down 44.3% compared to the same quarter last year. On average, sell-side analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Core Scientific 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.