Core Scientific, Inc. $CORZ Stock Holdings Lifted by US Bancorp DE

US Bancorp DE lifted its position in Core Scientific, Inc. (NASDAQ:CORZ) by 23.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,682 shares of the company’s stock after acquiring an additional 1,663 shares during the period. US Bancorp DE’s holdings in Core Scientific were worth $63,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Core Scientific in the first quarter worth approximately $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Core Scientific in the first quarter worth approximately $50,000. CWM LLC boosted its holdings in shares of Core Scientific by 403.9% during the first quarter. CWM LLC now owns 8,092 shares of the company’s stock worth $59,000 after purchasing an additional 6,486 shares during the period. GAMMA Investing LLC increased its stake in Core Scientific by 1,722.3% in the 1st quarter. GAMMA Investing LLC now owns 8,565 shares of the company’s stock valued at $62,000 after buying an additional 8,095 shares during the period. Finally, Merit Financial Group LLC acquired a new position in Core Scientific in the 1st quarter valued at approximately $74,000.

Insiders Place Their Bets

In other news, Director Yadin Rozov acquired 110,000 shares of Core Scientific stock in a transaction dated Wednesday, May 28th. The stock was acquired at an average cost of $10.87 per share, for a total transaction of $1,195,700.00. Following the completion of the purchase, the director owned 475,687 shares of the company’s stock, valued at $5,170,717.69. This represents a 30.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Todd M. Duchene sold 7,759 shares of the business’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total transaction of $96,134.01. Following the completion of the sale, the insider owned 2,049,689 shares of the company’s stock, valued at $25,395,646.71. The trade was a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,759 shares of company stock valued at $1,391,434 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CORZ. Macquarie downgraded shares of Core Scientific from a “strong-buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research report on Thursday, July 10th. Roth Mkm reiterated a “buy” rating and issued a $20.00 target price on shares of Core Scientific in a research report on Thursday, June 26th. Barclays downgraded shares of Core Scientific to an “underweight” rating in a research report on Tuesday, July 8th. Citigroup downgraded shares of Core Scientific from an “outperform” rating to a “market perform” rating in a research report on Monday, July 14th. Finally, B. Riley downgraded shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.47.

Core Scientific Trading Up 2.8%

Shares of Core Scientific stock opened at $14.53 on Tuesday. The firm has a fifty day simple moving average of $13.84 and a 200-day simple moving average of $11.02. Core Scientific, Inc. has a 1-year low of $6.20 and a 1-year high of $18.63. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of -25.95 and a beta of 6.60.

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, topping analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $78.63 million during the quarter, compared to analyst estimates of $82.09 million. The business’s revenue for the quarter was down 44.3% compared to the same quarter last year. As a group, research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

About Core Scientific

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.