Core Scientific, Inc. (NASDAQ:CORZ) Shares Acquired by Caitong International Asset Management Co. Ltd

Key Points

• Caitong International Asset Management Co. Ltd increased its stake in Core Scientific by 411.5%, acquiring an additional 23,046 shares and bringing its total ownership to 28,647 shares worth approximately $207,000.
• Core Scientific's shares have traded between a 52-week low of $6.20 and a high of $18.63, with the stock currently priced around $13.85.
• Recent analyst reports show mixed ratings for Core Scientific, with assessments ranging from "strong-buy" to "hold", and an average target price of $18.32.

Caitong International Asset Management Co. Ltd lifted its position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 411.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,647 shares of the company's stock after acquiring an additional 23,046 shares during the quarter. Caitong International Asset Management Co. Ltd's holdings in Core Scientific were worth $207,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Oppenheimer Asset Management Inc. lifted its position in Core Scientific by 229.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 37,501 shares of the company's stock valued at $272,000 after acquiring an additional 26,135 shares during the last quarter. Summit Trail Advisors LLC acquired a new stake in shares of Core Scientific in the 1st quarter worth $357,000. Deutsche Bank AG grew its stake in Core Scientific by 53.8% during the 4th quarter. Deutsche Bank AG now owns 165,032 shares of the company's stock worth $2,319,000 after buying an additional 57,742 shares during the last quarter. Millennium Management LLC acquired a new position in Core Scientific during the 4th quarter valued at about $1,335,000. Finally, Teacher Retirement System of Texas purchased a new stake in Core Scientific in the first quarter valued at about $234,000.

Insider Activity

In other Core Scientific news, insider Todd M. Duchene sold 60,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total transaction of $679,800.00. Following the transaction, the insider owned 2,100,102 shares in the company, valued at approximately $23,794,155.66. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yadin Rozov acquired 110,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was acquired at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the transaction, the director directly owned 475,687 shares of the company's stock, valued at approximately $5,170,717.69. This represents a 30.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 117,759 shares of company stock valued at $1,391,434. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

CORZ has been the topic of a number of research analyst reports. Craig Hallum lowered Core Scientific from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 7th. JMP Securities reissued a "market perform" rating on shares of Core Scientific in a research report on Tuesday, August 12th. HC Wainwright reaffirmed a "neutral" rating on shares of Core Scientific in a report on Monday, August 11th. Arete Research upgraded shares of Core Scientific to a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Arete began coverage on Core Scientific in a research report on Tuesday, July 22nd. They issued a "buy" rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $18.32.

Core Scientific Stock Up 2.1%

Shares of NASDAQ:CORZ traded up $0.29 during trading on Friday, hitting $14.13. 43,578,380 shares of the stock traded hands, compared to its average volume of 15,527,717. The company has a fifty day moving average price of $13.80 and a two-hundred day moving average price of $11.01. Core Scientific, Inc. has a 52-week low of $6.20 and a 52-week high of $18.63. The company has a market cap of $4.32 billion, a price-to-earnings ratio of -25.23 and a beta of 6.60.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. The firm had revenue of $78.63 million during the quarter, compared to analysts' expectations of $82.09 million. The firm's revenue for the quarter was down 44.3% compared to the same quarter last year. On average, equities research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

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.