BNP Paribas Financial Markets Has $3.39 Million Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

BNP Paribas Financial Markets boosted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 57.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 241,456 shares of the company's stock after purchasing an additional 87,872 shares during the period. BNP Paribas Financial Markets owned about 0.09% of Core Scientific worth $3,392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Xponance Inc. grew its position in Core Scientific by 7.9% in the fourth quarter. Xponance Inc. now owns 12,800 shares of the company's stock worth $180,000 after acquiring an additional 937 shares in the last quarter. Summit Investment Advisors Inc. grew its position in Core Scientific by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company's stock worth $262,000 after acquiring an additional 1,185 shares in the last quarter. Wellington Shields & Co. LLC bought a new stake in Core Scientific in the fourth quarter worth approximately $26,000. First Horizon Advisors Inc. bought a new stake in Core Scientific in the fourth quarter worth approximately $34,000. Finally, Joel Isaacson & Co. LLC grew its position in Core Scientific by 4.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company's stock worth $815,000 after acquiring an additional 2,500 shares in the last quarter.

Wall Street Analyst Weigh In

CORZ has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a report on Monday, January 27th. They set an "outperform" rating and a $22.00 price objective for the company. Compass Point decreased their price objective on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Needham & Company LLC decreased their price objective on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Craig Hallum assumed coverage on shares of Core Scientific in a report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price objective for the company. Sixteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $18.81.

Core Scientific Price Performance

NASDAQ:CORZ opened at $10.51 on Friday. The stock has a market cap of $3.13 billion, a P/E ratio of -1.94 and a beta of 6.66. Core Scientific, Inc. has a one year low of $3.67 and a one year high of $18.63. The company has a fifty day moving average price of $8.08 and a 200 day moving average price of $11.99.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. Core Scientific's revenue for the quarter was down 55.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 earnings per share. As a group, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Activity

In other news, Director Todd A. Becker sold 134,250 shares of the stock in a transaction 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 completion of the transaction, the director now owns 195,687 shares in the company, valued at approximately $2,103,635.25. This represents a 40.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jordan Levy acquired 62,500 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, with a total value of $500,625.00. Following the purchase, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. This represents a 25.57% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company's stock.

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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