Moody Aldrich Partners LLC Increases Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Moody Aldrich Partners LLC increased its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 365,462 shares of the company's stock after buying an additional 20,073 shares during the period. Moody Aldrich Partners LLC owned 0.12% of Core Scientific worth $2,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Shields & Co. LLC bought a new position in Core Scientific in the 4th quarter worth approximately $26,000. Vestcor Inc bought a new position in Core Scientific in the 4th quarter valued at $66,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Core Scientific in the 1st quarter valued at $50,000. US Bancorp DE bought a new position in Core Scientific in the 4th quarter valued at $99,000. Finally, GAMMA Investing LLC boosted its holdings in 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 during the period.

Insider Transactions at Core Scientific

In other news, Director Yadin Rozov acquired 110,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were purchased at an average price of $10.87 per share, for a total transaction of $1,195,700.00. Following the completion of the transaction, the director owned 475,687 shares of the company's stock, valued at $5,170,717.69. The trade was a 30.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd M. Duchene sold 60,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total transaction of $679,800.00. Following the completion of the transaction, the insider owned 2,100,102 shares in the company, valued at $23,794,155.66. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,759 shares of company stock worth $1,391,434 in the last 90 days. Corporate insiders own 1.40% of the company's stock.

Analyst Ratings Changes

CORZ has been the subject of several analyst reports. Citigroup initiated coverage on shares of Core Scientific in a report on Thursday, May 22nd. They issued an "outperform" rating for the company. Citizens Jmp raised shares of Core Scientific to a "strong-buy" rating and set a $15.00 price target for the company in a report on Thursday, May 22nd. JMP Securities assumed coverage on shares of Core Scientific in a report on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 price target for the company. Oppenheimer began coverage on shares of Core Scientific in a report on Wednesday, May 14th. They set an "outperform" rating and a $15.00 price objective for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $18.00 target price on shares of Core Scientific in a research report on Friday, June 27th. Seventeen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Core Scientific currently has an average rating of "Buy" and a consensus price target of $18.35.

Core Scientific Price Performance

NASDAQ:CORZ traded up $0.49 during trading hours on Friday, reaching $18.05. The company's stock had a trading volume of 13,347,625 shares, compared to its average volume of 13,263,070. The firm has a 50-day simple moving average of $11.70 and a 200-day simple moving average of $11.15. 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 data on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. The firm had revenue of $79.53 million during the quarter, compared to analysts' expectations of $92.04 million. During the same quarter in the previous year, the firm posted $0.78 EPS. Core Scientific's revenue was down 55.6% compared to the same quarter last year. Research 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.