MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 439,813 Shares of Core Scientific, Inc. $CORZ

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Core Scientific, Inc. by 26.5% during the first quarter, now owning approximately 0.71% of the company worth $15.2 million.
• Core Scientific's stock dropped by 2.8%, closing at $15.55, while the company reported a 44.3% decrease in revenue compared to the same quarter last year.
• Analyst ratings for Core Scientific include a mix of "Hold" and "Market Perform," with one strong buy and a consensus target price of $18.39.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 26.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,102,219 shares of the company's stock after buying an additional 439,813 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.71% of Core Scientific worth $15,220,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Core Scientific during the first quarter worth approximately $34,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Core Scientific in the 1st quarter valued at $38,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Core Scientific in the 1st quarter valued at $50,000. CWM LLC boosted its holdings in shares of Core Scientific by 403.9% in the 1st quarter. CWM LLC now owns 8,092 shares of the company's stock valued at $59,000 after purchasing an additional 6,486 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Core Scientific by 1,722.3% in the 1st quarter. GAMMA Investing LLC now owns 8,565 shares of the company's stock valued at $62,000 after purchasing an additional 8,095 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays downgraded Core Scientific to an "underweight" rating in a report on Tuesday, July 8th. JMP Securities reaffirmed a "market perform" rating on shares of Core Scientific in a report on Tuesday, August 12th. BTIG Research downgraded Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 target price on the stock. in a report on Monday, July 7th. Macquarie reaffirmed a "neutral" rating and issued a $15.00 target price on shares of Core Scientific in a report on Tuesday, August 19th. Finally, Roth Mkm reissued a "buy" rating and set a $20.00 price objective on shares of Core Scientific in a report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Core Scientific presently has an average rating of "Hold" and a consensus price target of $18.39.

Core Scientific Price Performance

Shares of NASDAQ CORZ traded up $0.31 during mid-day trading on Friday, hitting $15.86. 9,757,001 shares of the stock traded hands, compared to its average volume of 13,113,973. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $18.63. The company has a market cap of $4.84 billion, a PE ratio of -28.32 and a beta of 6.59. The firm has a 50 day simple moving average of $13.96 and a two-hundred day simple moving average of $11.35.

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

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 7,759 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total transaction of $96,134.01. Following the completion of the transaction, the insider directly owned 2,049,689 shares of the company's stock, valued at $25,395,646.71. This trade represents a 0.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate 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.