Ameriprise Financial Inc. Acquires Shares of 209,969 Core Scientific, Inc. (NASDAQ:CORZ)

Ameriprise Financial Inc. acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 209,969 shares of the company's stock, valued at approximately $2,950,000. Ameriprise Financial Inc. owned 0.08% of Core Scientific at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CORZ. KBC Group NV bought a new stake in shares of Core Scientific during the fourth quarter valued at approximately $114,000. Mount Yale Investment Advisors LLC bought a new stake in Core Scientific in the fourth quarter valued at $421,000. Moody Aldrich Partners LLC bought a new stake in Core Scientific in the fourth quarter valued at $4,853,000. Calamos Advisors LLC bought a new stake in Core Scientific in the fourth quarter valued at $1,405,000. 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 valued at $815,000 after acquiring an additional 2,500 shares during the period.

Analyst Ratings Changes

CORZ has been the topic of a number of recent analyst reports. Citizens Jmp raised Core Scientific to a "strong-buy" rating and set a $15.00 price objective on the stock in a research note on Thursday, May 22nd. Cantor Fitzgerald reduced 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. JMP Securities initiated coverage on Core Scientific in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 price objective on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Friday, May 9th. Finally, Compass Point reduced their price objective on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Eighteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $18.33.

Core Scientific Stock Up 0.5%

Shares of NASDAQ:CORZ traded up $0.05 during mid-day trading on Friday, reaching $10.74. 19,587,009 shares of the stock were exchanged, compared to its average volume of 13,414,476. The company has a market cap of $3.20 billion, a P/E ratio of -1.99 and a beta of 6.66. Core Scientific, Inc. has a one year low of $4.74 and a one year high of $18.63. The stock's 50 day simple moving average is $8.55 and its 200-day simple moving average is $11.63.

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, topping analysts' consensus estimates 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. The firm's quarterly revenue was down 55.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. Analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at Core Scientific

In related news, Director Yadin Rozov purchased 110,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was purchased at an average cost of $10.87 per share, for a total transaction of $1,195,700.00. Following the completion of the purchase, the director now directly owns 475,687 shares in the company, valued at $5,170,717.69. This trade represents a 30.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jordan Levy bought 62,500 shares of Core Scientific stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $8.01 per share, with a total value of $500,625.00. Following the completion of the purchase, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. This trade 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.

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.