205,286 Shares in Core Scientific, Inc. (NASDAQ:CORZ) Purchased by Man Group plc

Man Group plc acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 205,286 shares of the company's stock, valued at approximately $2,884,000. Man Group plc owned 0.07% of Core Scientific as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CORZ. Wellington Shields & Co. LLC bought a new stake in Core Scientific during the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. bought a new stake in shares of Core Scientific during the fourth quarter worth $34,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Core Scientific in the fourth quarter valued at $42,000. Vestcor Inc acquired a new stake in shares of Core Scientific in the fourth quarter valued at $66,000. Finally, US Bancorp DE bought a new position in shares of Core Scientific in the fourth quarter valued at about $99,000.

Core Scientific Trading Down 5.1%

Shares of Core Scientific stock traded down $0.57 during trading on Wednesday, reaching $10.71. The stock had a trading volume of 2,598,912 shares, compared to its average volume of 13,265,834. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -1.98 and a beta of 6.66. The stock has a fifty day moving average price of $8.43 and a two-hundred day moving average price of $11.79. Core Scientific, Inc. has a 52 week low of $4.46 and a 52 week high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate of $92.04 million. The company's revenue was down 55.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, equities analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of the business'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 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. The trade was a 40.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jordan Levy acquired 62,500 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the purchase, 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CORZ has been the topic of a number of research analyst reports. Citizens Jmp raised shares of Core Scientific to a "strong-buy" rating and set a $15.00 price objective on the stock in a report on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and set a $16.00 price target on shares of Core Scientific in a research note on Friday, May 16th. Cantor Fitzgerald lowered their price target on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Compass Point reduced their price objective on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, HC Wainwright reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, March 11th. Eighteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Core Scientific has an average rating of "Buy" and an average target price of $18.33.

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.