62,450 Shares in Core Scientific, Inc. (NASDAQ:CORZ) Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc bought a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 62,450 shares of the company's stock, valued at approximately $877,000.

A number of other hedge funds also recently added to or reduced their stakes in CORZ. JPMorgan Chase & Co. increased its position in shares of Core Scientific by 48.0% during the third quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company's stock worth $5,192,000 after acquiring an additional 142,068 shares during the period. Shikiar Asset Management Inc. increased its holdings in Core Scientific by 27.0% during the 4th quarter. Shikiar Asset Management Inc. now owns 95,250 shares of the company's stock worth $1,338,000 after purchasing an additional 20,250 shares during the period. Red Door Wealth Management LLC raised its position in Core Scientific by 124.3% in the 4th quarter. Red Door Wealth Management LLC now owns 95,378 shares of the company's stock valued at $1,340,000 after purchasing an additional 52,851 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Core Scientific by 27.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 629,329 shares of the company's stock valued at $8,842,000 after purchasing an additional 136,212 shares in the last quarter. Finally, Duncan Williams Asset Management LLC purchased a new position in shares of Core Scientific in the 4th quarter valued at about $141,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CORZ shares. Craig Hallum initiated coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price target on the stock. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a research report on Monday, January 27th. They set an "outperform" rating and a $22.00 target price on the stock. HC Wainwright reiterated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, March 11th. Needham & Company LLC reissued a "buy" rating and set a $16.00 price objective on shares of Core Scientific in a research note on Friday. Finally, Cantor Fitzgerald lowered their price target on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Sixteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Core Scientific presently has a consensus rating of "Buy" and a consensus price target of $18.75.

Insider Activity

In other Core Scientific news, Director Jordan Levy bought 62,500 shares of the stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the acquisition, the director now owns 306,887 shares in the company, valued at $2,458,164.87. This trade represents a 25.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total value of $1,443,187.50. Following the transaction, the director now directly owns 195,687 shares in the company, valued at approximately $2,103,635.25. The trade was a 40.69% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

Core Scientific Stock Up 0.6%

Core Scientific stock traded up $0.07 during mid-day trading on Tuesday, hitting $10.92. 12,404,707 shares of the company's stock were exchanged, compared to its average volume of 13,184,345. The firm has a market capitalization of $3.25 billion, a P/E ratio of -2.02 and a beta of 6.66. The company's 50 day simple moving average is $8.16 and its 200-day simple moving average is $11.93. Core Scientific, Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to the consensus estimate of $92.04 million. During the same period last year, the company posted $0.78 earnings per share. The business's revenue was down 55.6% compared to the same quarter last year. Research analysts expect 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.