Deutsche Bank AG Increases Position in Core Scientific, Inc. (NASDAQ:CORZ)

Deutsche Bank AG raised its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 53.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,032 shares of the company’s stock after buying an additional 57,742 shares during the period. Deutsche Bank AG owned about 0.06% of Core Scientific worth $2,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in shares of Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company’s stock valued at $104,479,000 after buying an additional 7,191,428 shares during the period. Vanguard Group Inc. grew its position in Core Scientific by 54.3% in the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock valued at $272,270,000 after acquiring an additional 6,819,406 shares in the last quarter. Helix Partners Management LP purchased a new stake in Core Scientific during the fourth quarter worth about $86,498,000. Driehaus Capital Management LLC increased its stake in Core Scientific by 112.1% during the fourth quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company’s stock worth $144,212,000 after purchasing an additional 5,424,901 shares during the period. Finally, Beryl Capital Management LLC lifted its position in shares of Core Scientific by 24.3% during the fourth quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company’s stock worth $255,423,000 after purchasing an additional 3,548,396 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CORZ shares. Oppenheimer began coverage on shares of Core Scientific in a report on Wednesday, May 14th. They issued an “outperform” rating and a $15.00 price objective for the company. JMP Securities started coverage on shares of Core Scientific in a research report on Thursday. They issued a “market outperform” rating and a $15.00 price target for the company. Cantor Fitzgerald dropped their price target on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Citigroup began coverage on Core Scientific in a research report on Thursday. They set an “outperform” rating on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Core Scientific in a report on Friday, May 16th. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Core Scientific currently has a consensus rating of “Buy” and a consensus target price of $18.33.

Insider Buying and Selling at Core Scientific

In related news, Director Jordan Levy purchased 62,500 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the purchase, the director now directly owns 306,887 shares of the company’s stock, valued at $2,458,164.87. The trade was a 25.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the completion of the sale, the director now directly owns 195,687 shares of the company’s stock, valued at approximately $2,103,635.25. This trade represents a 40.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $10.83 on Friday. The business has a 50-day moving average of $8.28 and a two-hundred day moving average of $11.90. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -2.00 and a beta of 6.66. Core Scientific, Inc. has a 1 year low of $3.99 and a 1 year high of $18.63.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. Core Scientific’s revenue was down 55.6% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. As a group, equities research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

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.