Galaxy Digital Inc. Takes Position in Core Scientific, Inc. $CORZ

Galaxy Digital Inc. acquired a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 700,000 shares of the company’s stock, valued at approximately $10,472,000. Core Scientific makes up about 0.9% of Galaxy Digital Inc.’s investment portfolio, making the stock its 13th biggest position.

Several other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in Core Scientific by 106.1% during the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock valued at $2,052,000 after purchasing an additional 145,905 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Core Scientific by 180.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock worth $8,032,000 after buying an additional 714,388 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Core Scientific by 200.0% in the 2nd quarter. Cetera Investment Advisers now owns 38,819 shares of the company’s stock worth $663,000 after buying an additional 25,878 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Core Scientific during the 2nd quarter valued at $181,000. Finally, Russell Investments Group Ltd. raised its position in shares of Core Scientific by 61.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after buying an additional 1,507 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CORZ. Jefferies Financial Group lifted their price objective on shares of Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Freedom Capital raised Core Scientific to a “hold” rating in a research note on Monday, June 15th. B. Riley Financial raised their price target on Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $32.00 price target on shares of Core Scientific in a research note on Wednesday, June 3rd. Finally, Loop Capital set a $40.00 price objective on Core Scientific in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Core Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $30.39.

Insider Buying and Selling at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.63, for a total transaction of $226,300.00. Following the transaction, the insider directly owned 2,023,426 shares of the company’s stock, valued at approximately $45,790,130.38. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 80,000 shares of company stock valued at $2,011,800. 1.70% of the stock is currently owned by company insiders.

Core Scientific Price Performance

NASDAQ CORZ opened at $22.75 on Friday. Core Scientific, Inc. has a 1 year low of $12.60 and a 1 year high of $30.46. The stock has a market capitalization of $7.23 billion, a PE ratio of -19.96 and a beta of 5.50. The business’s 50-day moving average is $25.42 and its 200 day moving average is $20.68.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The business had revenue of $115.24 million during the quarter, compared to analyst estimates of $117.04 million. Core Scientific’s revenue was up 44.9% compared to the same quarter last year. During the same period last year, the firm earned $1.25 earnings per share. As a group, equities research analysts anticipate that Core Scientific, Inc. will post 0.08 earnings per share for the current year.

Core Scientific Profile

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.