DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Invests $2.95 Million in Core Scientific, Inc. (NASDAQ:CORZ)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 210,029 shares of the company's stock, valued at approximately $2,951,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned about 0.08% of Core Scientific at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Xponance Inc. raised its holdings in shares of 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 buying an additional 937 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of 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 during the period. Wellington Shields & Co. LLC acquired a new stake in shares of Core Scientific in the fourth quarter worth $26,000. First Horizon Advisors Inc. acquired a new stake in shares of Core Scientific in the fourth quarter worth $34,000. Finally, Joel Isaacson & Co. LLC increased its stake in shares of 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 during the period.

Core Scientific Trading Up 2.2%

CORZ traded up $0.23 during midday trading on Friday, hitting $10.74. 8,483,565 shares of the company traded hands, compared to its average volume of 13,102,200. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of -1.98 and a beta of 6.66. Core Scientific, Inc. has a 52-week low of $3.67 and a 52-week high of $18.63. The business has a 50 day simple moving average of $8.08 and a two-hundred day simple moving average of $11.99.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share (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 analysts' expectations of $92.04 million. The business's revenue for the quarter was down 55.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. Equities research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

CORZ has been the topic of a number of research reports. Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price objective on shares of Core Scientific in a research note on Friday. Compass Point cut their price objective on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Oppenheimer initiated coverage on shares of Core Scientific in a research note on Wednesday. They issued an "outperform" rating and a $15.00 price objective on the stock. Craig Hallum initiated coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price objective on the stock. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Friday, May 9th. Sixteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $18.75.

Insider Buying and Selling at Core Scientific

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

Core Scientific 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.