Banco Bilbao Vizcaya Argentaria S.A. Buys Shares of 93,006 Core Scientific, Inc. $CORZ

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has acquired approximately 93,006 shares of Core Scientific, Inc. (NASDAQ: CORZ), valued at about $721,000.
• Multiple institutional investors, including Wellington Management Group and US Bancorp DE, have also increased their stakes in Core Scientific, indicating growing interest in the company's stock.
• Core Scientific recently reported an EPS of ($0.04) for the last quarter, exceeding analysts' estimates but showing a 44.3% decrease in revenue compared to the previous year.

Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 93,006 shares of the company's stock, valued at approximately $721,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its stake in shares of Core Scientific by 229.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 37,501 shares of the company's stock worth $272,000 after purchasing an additional 26,135 shares in the last quarter. Summit Trail Advisors LLC acquired a new position in shares of Core Scientific during the first quarter worth $357,000. Deutsche Bank AG grew its stake in shares of Core Scientific by 53.8% during the fourth quarter. Deutsche Bank AG now owns 165,032 shares of the company's stock worth $2,319,000 after purchasing an additional 57,742 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Core Scientific during the fourth quarter worth $1,335,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Core Scientific during the first quarter worth $234,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CORZ shares. Roth Capital lowered their target price on shares of Core Scientific from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, August 22nd. Barclays downgraded shares of Core Scientific to an "underweight" rating in a research note on Tuesday, July 8th. BTIG Research downgraded shares of Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 price objective for the company. in a research note on Monday, July 7th. Needham & Company LLC downgraded shares of Core Scientific from a "moderate buy" rating to a "hold" rating and set a $18.00 price objective for the company. in a research note on Thursday, July 10th. Finally, HC Wainwright restated a "neutral" rating on shares of Core Scientific in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $18.32.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 60,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total transaction of $679,800.00. Following the completion of the transaction, the insider directly owned 2,100,102 shares of the company's stock, valued at $23,794,155.66. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 117,759 shares of company stock worth $1,391,434 over the last three months. Corporate insiders own 1.40% of the company's stock.

Core Scientific Price Performance

Shares of NASDAQ:CORZ traded down $0.39 on Friday, reaching $13.97. The company's stock had a trading volume of 1,712,691 shares, compared to its average volume of 16,434,777. The stock's 50-day moving average is $14.14 and its two-hundred day moving average is $11.12. Core Scientific, Inc. has a 52-week low of $6.20 and a 52-week high of $18.63. The stock has a market capitalization of $4.27 billion, a P/E ratio of -24.93 and a beta of 6.60.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The firm had revenue of $78.63 million for the quarter, compared to analysts' expectations of $82.09 million. Core Scientific's quarterly revenue was down 44.3% compared to the same quarter last year. Equities analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

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.