By otakuyassine3@gmail.com 
Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,647 shares of the company’s stock, valued at approximately $241,000.
A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Core Scientific by 54.3% in the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock worth $272,270,000 after purchasing an additional 6,819,406 shares in the last quarter. ORG Wealth Partners LLC increased its stake in shares of Core Scientific by 0.3% in the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock valued at $126,262,000 after buying an additional 26,649 shares during the period. Geode Capital Management LLC raised its holdings in Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after buying an additional 1,113,285 shares during the last quarter. State Street Corp grew its holdings in Core Scientific by 17.0% during the 3rd quarter. State Street Corp now owns 4,006,922 shares of the company’s stock worth $47,522,000 after acquiring an additional 583,493 shares during the last quarter. Finally, Rush Island Management LP acquired a new position in Core Scientific in the 3rd quarter valued at approximately $32,221,000.
Core Scientific Price Performance
CORZ stock opened at $7.15 on Friday. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The stock has a market capitalization of $2.11 billion, a PE ratio of -1.32 and a beta of 6.80. The company’s 50-day moving average is $10.25 and its 200-day moving average is $13.00.
Core Scientific (NASDAQ:CORZ – Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. On average, analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Craig Hallum initiated coverage on shares of Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Core Scientific in a report on Tuesday, March 11th. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Wednesday, March 12th. Cantor Fitzgerald cut their price objective on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Compass Point reduced their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $19.07.
Check Out Our Latest Report on CORZ
Insider Buying and Selling at Core Scientific
In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the completion of the transaction, the chief executive officer now owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. The trade was a 8.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd M. Duchene sold 25,277 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now directly owns 2,023,423 shares of the company’s stock, valued at approximately $32,860,389.52. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 530,041 shares of company stock worth $7,870,352. 32.00% of the stock is owned by corporate insiders.
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.
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