Banco Bilbao Vizcaya Argentaria S.A. Takes Position in 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. purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 93,006 shares of the company's stock, valued at approximately $721,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CORZ. Wellington Management Group LLP boosted its holdings in Core Scientific by 11.7% in the 1st quarter. Wellington Management Group LLP now owns 11,967 shares of the company's stock worth $87,000 after buying an additional 1,256 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Core Scientific by 17.8% in the first quarter. SBI Securities Co. Ltd. now owns 10,391 shares of the company's stock valued at $75,000 after acquiring an additional 1,567 shares in the last quarter. US Bancorp DE boosted its stake in shares of Core Scientific by 23.7% in the first quarter. US Bancorp DE now owns 8,682 shares of the company's stock worth $63,000 after acquiring an additional 1,663 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Core Scientific by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,393 shares of the company's stock worth $126,000 after purchasing an additional 1,746 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Core Scientific by 1.3% in the 1st quarter. Deutsche Bank AG now owns 167,100 shares of the company's stock valued at $1,210,000 after purchasing an additional 2,068 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. HC Wainwright reaffirmed a "neutral" rating on shares of Core Scientific in a research note on Monday, August 11th. Oppenheimer restated a "market perform" rating on shares of Core Scientific in a research report on Monday, July 7th. Jefferies Financial Group upped their price objective on shares of Core Scientific from $16.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Craig Hallum lowered shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 7th. Finally, BTIG Research cut Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 target price on the stock. in a report on Monday, July 7th. 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $18.32.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 60,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total value of $679,800.00. Following the sale, the insider directly owned 2,100,102 shares in the company, valued at approximately $23,794,155.66. The trade was a 2.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yadin Rozov bought 110,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were bought at an average cost of $10.87 per share, with a total value of $1,195,700.00. Following the purchase, the director owned 475,687 shares of the company's stock, valued at $5,170,717.69. This trade represents a 30.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 117,759 shares of company stock worth $1,391,434. Corporate insiders own 1.40% of the company's stock.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $13.55 on Friday. The company has a market capitalization of $4.14 billion, a P/E ratio of -24.20 and a beta of 6.60. The company has a 50 day simple moving average of $13.97 and a 200-day simple moving average of $11.07. Core Scientific, Inc. has a 1 year low of $6.20 and a 1 year high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. The business had revenue of $78.63 million during the quarter, compared to analyst estimates of $82.09 million. The company's revenue was down 44.3% compared to the same quarter last year. As a group, 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.

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