Mutual of America Capital Management LLC Invests $1.91 Million in Core Scientific, Inc. (NASDAQ:CORZ)

Mutual of America Capital Management LLC bought a new position in Core Scientific, Inc. (NASDAQ:CORZ) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 263,266 shares of the company’s stock, valued at approximately $1,906,000. Mutual of America Capital Management LLC owned approximately 0.09% of Core Scientific at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Emerald Mutual Fund Advisers Trust purchased a new position in Core Scientific during the first quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Core Scientific during the first quarter valued at approximately $50,000. GAMMA Investing LLC grew its position in Core Scientific by 1,722.3% during the first quarter. GAMMA Investing LLC now owns 8,565 shares of the company’s stock valued at $62,000 after purchasing an additional 8,095 shares in the last quarter. Bank of Montreal Can purchased a new position in Core Scientific during the fourth quarter valued at approximately $142,000. Finally, Merit Financial Group LLC purchased a new position in Core Scientific during the first quarter valued at approximately $74,000.

Insider Activity at Core Scientific

In other Core Scientific news, Director Yadin Rozov purchased 110,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was bought at an average cost of $10.87 per share, with a total value of $1,195,700.00. Following the purchase, the director directly owned 475,687 shares of the company’s stock, valued at $5,170,717.69. The trade was a 30.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Todd M. Duchene sold 60,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total transaction of $679,800.00. Following the completion of the transaction, the insider directly owned 2,100,102 shares of the company’s stock, valued at $23,794,155.66. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 117,759 shares of company stock valued at $1,391,434 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

CORZ has been the subject of a number of analyst reports. Citizens Jmp cut shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 14th. Citigroup cut shares of Core Scientific from an “outperform” rating to a “market perform” rating in a research note on Monday, July 14th. Roth Mkm reiterated a “buy” rating and set a $20.00 target price on shares of Core Scientific in a research note on Thursday, June 26th. Craig Hallum cut shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 7th. Finally, HC Wainwright lowered shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Core Scientific currently has a consensus rating of “Hold” and a consensus target price of $18.22.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $13.35 on Friday. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -2.65 and a beta of 6.71. The firm’s 50 day simple moving average is $12.67 and its 200 day simple moving average is $11.08. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $18.63.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million for the quarter, compared to the consensus estimate of $92.04 million. During the same period in the previous year, the company posted $0.78 earnings per share. Core Scientific’s revenue for the quarter was down 55.6% compared to the same quarter last year. 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.