Bank of New York Mellon Corp Sells 62,106 Shares of Core Scientific, Inc. $CORZ

Bank of New York Mellon Corp reduced its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 814,703 shares of the company’s stock after selling 62,106 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.27% of Core Scientific worth $13,907,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new stake in Core Scientific during the 2nd quarter valued at $51,000. Farther Finance Advisors LLC acquired a new stake in shares of Core Scientific during the 2nd quarter worth about $65,000. Nisa Investment Advisors LLC boosted its holdings in shares of Core Scientific by 192.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,662 shares of the company’s stock worth $80,000 after buying an additional 3,067 shares during the period. IFP Advisors Inc acquired a new position in Core Scientific in the 2nd quarter valued at about $86,000. Finally, State of Wyoming bought a new position in Core Scientific in the 1st quarter valued at about $34,000.

Core Scientific Stock Performance

Shares of NASDAQ CORZ opened at $14.79 on Tuesday. The stock has a market capitalization of $4.59 billion, a P/E ratio of 98.61 and a beta of 6.59. The stock’s fifty day moving average is $18.11 and its 200 day moving average is $14.74. Core Scientific, Inc. has a 52 week low of $6.20 and a 52 week high of $23.63.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Friday, October 24th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.39. The firm had revenue of $81.10 million for the quarter, compared to the consensus estimate of $107.18 million. Equities research analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Insider Activity

In other news, Director Eric Stanton Weiss purchased 5,000 shares of Core Scientific stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the transaction, the director owned 226,687 shares of the company’s stock, valued at approximately $4,873,770.50. The trade was a 2.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CORZ has been the subject of several research reports. Macquarie upgraded shares of Core Scientific from a “hold” rating to an “outperform” rating and raised their price objective for the stock from $18.00 to $34.00 in a research report on Friday, October 31st. Arete started coverage on Core Scientific in a report on Tuesday, July 22nd. They set a “buy” rating and a $20.00 price target for the company. Compass Point began coverage on Core Scientific in a report on Monday, September 15th. They issued a “buy” rating on the stock. Jefferies Financial Group set a $24.00 price objective on Core Scientific and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Finally, HC Wainwright raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Core Scientific presently has a consensus rating of “Hold” and a consensus price target of $22.39.

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.