KLP Kapitalforvaltning AS Grows Stock Position in Core Scientific, Inc. $CORZ

KLP Kapitalforvaltning AS increased its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 88.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,500 shares of the company's stock after purchasing an additional 46,700 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Core Scientific were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Core Scientific by 11.7% in the first quarter. Wellington Management Group LLP now owns 11,967 shares of the company's stock worth $87,000 after purchasing an additional 1,256 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Core Scientific by 17.8% in the first quarter. SBI Securities Co. Ltd. now owns 10,391 shares of the company's stock worth $75,000 after purchasing an additional 1,567 shares during the last quarter. US Bancorp DE grew its stake in shares of Core Scientific by 23.7% in the first quarter. US Bancorp DE now owns 8,682 shares of the company's stock worth $63,000 after purchasing an additional 1,663 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Core Scientific by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,393 shares of the company's stock valued at $126,000 after acquiring an additional 1,746 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Core Scientific by 1.3% during the 1st quarter. Deutsche Bank AG now owns 167,100 shares of the company's stock valued at $1,210,000 after acquiring an additional 2,068 shares in the last quarter.

Core Scientific Stock Up 2.7%

Shares of CORZ opened at $18.52 on Monday. The business's 50 day moving average price is $15.47 and its 200-day moving average price is $12.54. Core Scientific, Inc. has a 52 week low of $6.20 and a 52 week high of $19.31. The stock has a market cap of $5.69 billion, a P/E ratio of -33.07 and a beta of 6.58.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.03. The company had revenue of $78.63 million during the quarter, compared to the consensus estimate of $82.09 million. Core Scientific's quarterly revenue was down 44.3% on a year-over-year basis. On average, equities analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Oppenheimer reaffirmed a "market perform" rating on shares of Core Scientific in a research report on Monday, July 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Core Scientific in a research report on Wednesday, October 8th. Arete assumed coverage on Core Scientific in a research report on Tuesday, July 22nd. They set a "buy" rating and a $20.00 price objective on the stock. BTIG Research cut Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 price objective on the stock. in a research report on Monday, July 7th. Finally, Macquarie lifted their price objective on Core Scientific from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $18.71.

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.

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