MetLife Investment Management LLC Reduces Position in Core Scientific, Inc. $CORZ

MetLife Investment Management LLC lessened its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,638 shares of the company’s stock after selling 1,731 shares during the period. MetLife Investment Management LLC’s holdings in Core Scientific were worth $779,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CORZ. Emerald Mutual Fund Advisers Trust purchased a new stake in Core Scientific during the first quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Core Scientific during the first quarter worth $50,000. CWM LLC lifted its holdings in 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 buying an additional 6,486 shares during the period. GAMMA Investing LLC lifted its holdings in Core Scientific by 1,722.3% during the first quarter. GAMMA Investing LLC now owns 8,565 shares of the company’s stock worth $62,000 after buying an additional 8,095 shares during the period. Finally, US Bancorp DE lifted its holdings in Core Scientific by 23.7% during the first quarter. US Bancorp DE now owns 8,682 shares of the company’s stock worth $63,000 after buying an additional 1,663 shares during the period.

Core Scientific Stock Performance

NASDAQ:CORZ opened at $13.62 on Friday. Core Scientific, Inc. has a one year low of $6.20 and a one year high of $18.63. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of -24.32 and a beta of 6.59. The firm’s fifty day moving average is $14.20 and its two-hundred day moving average is $11.18.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate 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. The firm’s revenue for the quarter was down 44.3% compared to the same quarter last year. As a group, equities research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Todd M. Duchene sold 7,759 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $12.39, for a total transaction of $96,134.01. Following the sale, the insider directly owned 2,049,689 shares of the company’s stock, valued at $25,395,646.71. This represents a 0.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CORZ shares. JMP Securities reaffirmed a “market perform” rating on shares of Core Scientific in a research report on Tuesday, August 12th. Citizens Jmp downgraded Core Scientific from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 14th. B. Riley downgraded Core Scientific from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 9th. Roth Capital reduced their price target on Core Scientific from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, August 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $20.00 price target on shares of Core Scientific in a research report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.32.

Core Scientific 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.