Kintayl Capital LP Invests $10.23 Million in Core Scientific, Inc. $CORZ

Kintayl Capital LP bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the third quarter, HoldingsChannel.com reports. The fund bought 570,054 shares of the company’s stock, valued at approximately $10,227,000. Core Scientific comprises 6.3% of Kintayl Capital LP’s investment portfolio, making the stock its 6th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HHM Wealth Advisors LLC boosted its position in Core Scientific by 96.5% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock worth $33,000 after purchasing an additional 946 shares during the period. Osaic Holdings Inc. increased its holdings in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after purchasing an additional 1,066 shares in the last quarter. Advisors Asset Management Inc. raised its position in Core Scientific by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock valued at $46,000 after purchasing an additional 1,092 shares during the period. PNC Financial Services Group Inc. raised its position in Core Scientific by 396.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,731 shares of the company’s stock valued at $64,000 after purchasing an additional 2,980 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Core Scientific by 61.9% in the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after purchasing an additional 1,507 shares during the period.

Core Scientific Price Performance

Shares of CORZ stock opened at $16.97 on Tuesday. The company’s fifty day moving average price is $17.38 and its two-hundred day moving average price is $17.08. The firm has a market capitalization of $5.35 billion, a P/E ratio of 14.50 and a beta of 6.86. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month high of $23.63.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Monday, March 2nd. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business had revenue of $79.76 million for the quarter, compared to analyst estimates of $118.45 million. During the same quarter in the prior year, the business earned ($0.69) earnings per share. The firm’s revenue was down 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

CORZ has been the subject of several analyst reports. Citigroup raised Core Scientific from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 18th. Cantor Fitzgerald dropped their target price on Core Scientific from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods boosted their price target on Core Scientific from $19.00 to $25.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Core Scientific in a report on Tuesday, March 3rd. Finally, Wall Street Zen upgraded Core Scientific to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.84.

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.