Invesco Ltd. Increases Stock Holdings in Core Scientific, Inc. $CORZ

Invesco Ltd. grew its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 2.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,174,345 shares of the company’s stock after acquiring an additional 41,825 shares during the period. Invesco Ltd. owned about 0.74% of Core Scientific worth $15,742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. increased its position in Core Scientific by 229.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 37,501 shares of the company’s stock valued at $272,000 after buying an additional 26,135 shares in the last quarter. Summit Trail Advisors LLC purchased a new stake in shares of Core Scientific in the first quarter worth $357,000. Deutsche Bank AG increased its holdings in shares of Core Scientific by 53.8% during the fourth quarter. Deutsche Bank AG now owns 165,032 shares of the company’s stock valued at $2,319,000 after acquiring an additional 57,742 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Core Scientific in the 4th quarter worth about $1,335,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Core Scientific in the 1st quarter worth about $234,000.

Analysts Set New Price Targets

CORZ has been the topic of several recent analyst reports. Barclays downgraded shares of Core Scientific to an “underweight” rating in a research report on Tuesday, July 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price target on shares of Core Scientific in a report on Friday, June 27th. B. Riley downgraded shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 9th. Arete assumed coverage on shares of Core Scientific in a report on Tuesday, July 22nd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Citizens Jmp downgraded Core Scientific from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of “Hold” and an average target price of $18.32.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Yadin Rozov acquired 110,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was purchased at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the transaction, the director directly owned 475,687 shares in the company, valued at approximately $5,170,717.69. The trade was a 30.08% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Todd M. Duchene sold 60,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total value of $679,800.00. Following the completion of the sale, the insider owned 2,100,102 shares of the company’s stock, valued at $23,794,155.66. This trade 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 worth $1,391,434 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Core Scientific Stock Down 1.7%

NASDAQ CORZ opened at $13.55 on Friday. The company has a 50-day moving average price of $13.97 and a 200-day moving average price of $11.08. Core Scientific, Inc. has a 52 week low of $6.20 and a 52 week high of $18.63. The firm has a market capitalization of $4.14 billion, a P/E ratio of -24.20 and a beta of 6.60.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $78.63 million during the quarter, compared to analysts’ expectations of $82.09 million. Core Scientific’s revenue for the quarter was down 44.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 EPS 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.