California State Teachers Retirement System Has $2.53 Million Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

California State Teachers Retirement System increased its stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 39.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 180,010 shares of the company's stock after acquiring an additional 50,593 shares during the quarter. California State Teachers Retirement System owned about 0.06% of Core Scientific worth $2,529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Xponance Inc. lifted its stake 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 acquiring an additional 937 shares during the period. Summit Investment Advisors Inc. lifted its stake in Core Scientific by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company's stock valued at $262,000 after buying an additional 1,185 shares during the period. Wellington Shields & Co. LLC acquired a new position in Core Scientific in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. acquired a new position in Core Scientific in the fourth quarter valued at approximately $34,000. Finally, Joel Isaacson & Co. LLC lifted its stake 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 buying an additional 2,500 shares during the period.

Core Scientific Stock Up 2.2%

NASDAQ:CORZ opened at $12.19 on Friday. The business's 50-day moving average price is $8.97 and its two-hundred day moving average price is $11.55. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $18.63. The stock has a market cap of $3.63 billion, a P/E ratio of -2.25 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate 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. Core Scientific's revenue for the quarter was down 55.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. On average, equities research analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity

In other news, Director Yadin Rozov acquired 110,000 shares of Core Scientific stock in a transaction dated Wednesday, May 28th. The shares were purchased at an average cost of $10.87 per share, for a total transaction of $1,195,700.00. Following the transaction, the director now owns 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 value of $679,800.00. Following the transaction, the insider now owns 2,100,102 shares in the company, valued at $23,794,155.66. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CORZ shares. Needham & Company LLC reissued a "buy" rating and issued a $16.00 price target on shares of Core Scientific in a research note on Friday, May 16th. Oppenheimer started coverage on Core Scientific in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $15.00 price target on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research note on Friday, May 9th. JMP Securities started coverage on Core Scientific in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 price target on the stock. Finally, Citizens Jmp raised Core Scientific to a "strong-buy" rating and set a $15.00 price target on the stock in a research note on Thursday, May 22nd. Eighteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $18.33.

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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