Core Scientific, Inc. (NASDAQ:CORZ) Position Boosted by Deutsche Bank AG

Deutsche Bank AG increased its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 53.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,032 shares of the company's stock after purchasing an additional 57,742 shares during the quarter. Deutsche Bank AG owned approximately 0.06% of Core Scientific worth $2,319,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. D. E. Shaw & Co. Inc. acquired a new position in Core Scientific in the fourth quarter valued at $9,774,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Core Scientific during the 4th quarter worth $2,951,000. Driehaus Capital Management LLC boosted its holdings in shares of Core Scientific by 112.1% in the fourth quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company's stock valued at $144,212,000 after acquiring an additional 5,424,901 shares in the last quarter. Concentric Capital Strategies LP purchased a new stake in shares of Core Scientific in the fourth quarter valued at about $5,940,000. Finally, Cresset Asset Management LLC raised its holdings in Core Scientific by 16.4% during the fourth quarter. Cresset Asset Management LLC now owns 35,668 shares of the company's stock worth $501,000 after purchasing an additional 5,022 shares in the last quarter.

Insider Transactions at Core Scientific

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

Core Scientific Trading Down 3.6%

CORZ traded down $0.41 during trading on Wednesday, hitting $10.88. 1,752,302 shares of the company's stock were exchanged, compared to its average volume of 13,262,401. Core Scientific, Inc. has a 1 year low of $4.46 and a 1 year high of $18.63. The stock has a 50 day moving average price of $8.43 and a 200 day moving average price of $11.79. The firm has a market cap of $3.24 billion, a P/E ratio of -2.01 and a beta of 6.66.

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, topping analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million for the quarter, compared to analysts' expectations of $92.04 million. During the same period last year, the company posted $0.78 earnings per share. The firm's revenue for the quarter was down 55.6% on a year-over-year basis. Analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $16.00 target price on shares of Core Scientific in a research report on Friday, May 16th. Citigroup initiated coverage on Core Scientific in a report on Thursday, May 22nd. They issued an "outperform" rating on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research note on Friday, May 9th. JMP Securities initiated coverage on shares of Core Scientific in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 price objective on the stock. Finally, Citizens Jmp upgraded shares of 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. Eighteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average 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.