Rhumbline Advisers Raises Stock Holdings in Core Scientific, Inc. $CORZ

Rhumbline Advisers raised its position in Core Scientific, Inc. (NASDAQ:CORZ) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,142 shares of the company’s stock after buying an additional 4,171 shares during the quarter. Rhumbline Advisers owned approximately 0.09% of Core Scientific worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. State of Wyoming acquired a new position in shares of Core Scientific in the first quarter valued at approximately $34,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Core Scientific in the first quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Core Scientific in the first quarter valued at approximately $50,000. CWM LLC increased its holdings in shares of Core Scientific by 403.9% in the first quarter. CWM LLC now owns 8,092 shares of the company’s stock valued at $59,000 after purchasing an additional 6,486 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Core Scientific by 1,722.3% in 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 during the period.

Insiders Place Their Bets

In related news, insider Todd M. Duchene sold 7,759 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total transaction of $96,134.01. Following the transaction, the insider directly owned 2,049,689 shares in the company, valued at approximately $25,395,646.71. This represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CORZ shares. HC Wainwright reissued a “neutral” rating on shares of Core Scientific in a report on Monday, August 11th. JMP Securities reissued a “market perform” rating on shares of Core Scientific in a report on Tuesday, August 12th. BTIG Research lowered Core Scientific from a “strong-buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a report on Monday, July 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Core Scientific in a report on Monday, July 7th. Finally, Citigroup lowered Core Scientific from an “outperform” rating to a “market perform” rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.39.

Core Scientific Trading Up 0.6%

NASDAQ:CORZ opened at $16.27 on Thursday. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of -29.05 and a beta of 6.59. The company’s 50-day moving average is $14.09 and its two-hundred day moving average is $11.45. Core Scientific, Inc. has a 12-month low of $6.20 and a 12-month high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Friday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $78.63 million during the quarter, compared to analysts’ expectations of $82.09 million. The business’s revenue for the quarter was down 44.3% on a year-over-year basis. On average, equities research analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal 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.