Nuveen Asset Management LLC Buys 956,409 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Nuveen Asset Management LLC boosted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 196.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,444,475 shares of the company's stock after purchasing an additional 956,409 shares during the period. Nuveen Asset Management LLC owned about 0.52% of Core Scientific worth $20,295,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CORZ. Wellington Shields & Co. LLC bought a new position in Core Scientific during the 4th quarter worth $26,000. First Horizon Advisors Inc. bought a new position in Core Scientific during the 4th quarter worth $34,000. Newbridge Financial Services Group Inc. bought a new position in Core Scientific during the 4th quarter worth $42,000. Vestcor Inc bought a new position in Core Scientific during the 4th quarter worth $66,000. Finally, US Bancorp DE bought a new position in Core Scientific during the 4th quarter worth $99,000.

Core Scientific Price Performance

Shares of CORZ traded up $0.05 during trading hours on Thursday, hitting $10.83. The stock had a trading volume of 2,432,544 shares, compared to its average volume of 13,276,694. The firm has a 50 day simple moving average of $8.48 and a 200-day simple moving average of $11.78. The firm has a market capitalization of $3.22 billion, a P/E ratio of -2.00 and a beta of 6.66. Core Scientific, Inc. has a 1-year low of $4.46 and a 1-year high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $79.53 million during the quarter, compared to the consensus estimate of $92.04 million. During the same period in the previous year, the business posted $0.78 EPS. Core Scientific's revenue was down 55.6% compared to the same quarter last year. Equities analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CORZ shares. HC Wainwright reaffirmed a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Compass Point lowered their target price on Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Citizens Jmp raised Core Scientific to a "strong-buy" rating and set a $15.00 target price for the company in a research report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $16.00 price target on shares of Core Scientific in a report on Friday, May 16th. Finally, Oppenheimer initiated coverage on Core Scientific in a report on Wednesday, May 14th. They set an "outperform" rating and a $15.00 price target for the company. Eighteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Core Scientific presently has an average rating of "Buy" and an average target price of $18.33.

Insider Activity at Core Scientific

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now owns 195,687 shares of the company's stock, valued at $2,103,635.25. This trade represents a 40.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jordan Levy bought 62,500 shares of the company's stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the transaction, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. This represents a 25.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

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.