Core Scientific, Inc. (NASDAQ:CORZ) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 60.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,009,594 shares of the company's stock after acquiring an additional 380,265 shares during the period. Exchange Traded Concepts LLC owned approximately 0.34% of Core Scientific worth $7,309,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Core Scientific in the 1st quarter valued at approximately $347,000. Simplicity Wealth LLC purchased a new position in Core Scientific in the 1st quarter worth approximately $912,000. Harbor Capital Advisors Inc. purchased a new stake in Core Scientific during the first quarter valued at about $1,210,000. Merit Financial Group LLC purchased a new position in shares of Core Scientific in the first quarter worth about $74,000. Finally, Rhumbline Advisers boosted its holdings in shares of Core Scientific by 1.6% during the first quarter. Rhumbline Advisers now owns 257,142 shares of the company's stock worth $1,862,000 after purchasing an additional 4,171 shares during the period.

Analysts Set New Price Targets

CORZ has been the subject of several recent analyst reports. Oppenheimer began coverage on Core Scientific in a research report on Wednesday, May 14th. They issued an "outperform" rating and a $15.00 price target for the company. JMP Securities started coverage on shares of Core Scientific in a research note on Thursday, May 22nd. They set a "market outperform" rating and a $15.00 price target on the stock. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a report on Friday, May 9th. HC Wainwright restated a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, Compass Point reduced their target price on Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Eighteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Core Scientific has a consensus rating of "Buy" and an average target price of $18.44.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 50,000 shares of Core Scientific stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $12.31, for a total transaction of $615,500.00. Following the completion of the transaction, the insider now directly owns 2,050,102 shares in the company, valued at $25,236,755.62. The trade was a 2.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yadin Rozov purchased 110,000 shares of the firm's stock in a transaction on 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 completion of the purchase, the director now directly owns 475,687 shares in the company, valued at $5,170,717.69. The trade was a 30.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company's stock.

Core Scientific Stock Down 1.6%

CORZ stock traded down $0.19 during trading on Tuesday, hitting $11.89. The company had a trading volume of 7,055,008 shares, compared to its average volume of 12,851,938. The firm has a 50-day moving average price of $9.68 and a 200-day moving average price of $11.25. The firm has a market cap of $3.54 billion, a PE ratio of -2.36 and a beta of 6.30. 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 results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. The company had revenue of $79.53 million for the quarter, compared to analysts' expectations 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 earned $0.78 EPS. Sell-side analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share 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.