Mutual of America Capital Management LLC bought a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 263,266 shares of the company's stock, valued at approximately $1,906,000. Mutual of America Capital Management LLC owned approximately 0.09% of Core Scientific at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CORZ. Arizona State Retirement System grew its position in shares of Core Scientific by 13.9% in the first quarter. Arizona State Retirement System now owns 63,993 shares of the company's stock valued at $463,000 after purchasing an additional 7,803 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in Core Scientific in the 1st quarter valued at approximately $38,000. Envestnet Asset Management Inc. increased its position in Core Scientific by 16.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 141,399 shares of the company's stock worth $1,024,000 after buying an additional 19,898 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Core Scientific by 5.1% during the first quarter. Bank of New York Mellon Corp now owns 876,809 shares of the company's stock worth $6,348,000 after buying an additional 42,732 shares during the last quarter. Finally, Moody Aldrich Partners LLC lifted its holdings in shares of Core Scientific by 5.8% during the first quarter. Moody Aldrich Partners LLC now owns 365,462 shares of the company's stock worth $2,646,000 after buying an additional 20,073 shares during the last quarter.
Insider Buying and Selling at Core Scientific
In other news, Director Yadin Rozov acquired 110,000 shares of Core Scientific stock in a transaction on Wednesday, May 28th. The shares were purchased at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the acquisition, the director owned 475,687 shares in the company, valued at $5,170,717.69. This represents a 30.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Todd M. Duchene sold 60,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total value of $679,800.00. Following the transaction, the insider directly owned 2,100,102 shares in the company, valued at approximately $23,794,155.66. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,759 shares of company stock worth $1,391,434. Company insiders own 1.40% of the company's stock.
Core Scientific Stock Up 0.1%
CORZ stock traded up $0.01 during midday trading on Wednesday, reaching $13.49. 7,959,485 shares of the company's stock traded hands, compared to its average volume of 14,025,128. The company has a 50-day simple moving average of $12.87 and a two-hundred day simple moving average of $11.07. Core Scientific, Inc. has a 1-year low of $6.20 and a 1-year high of $18.63. The company has a market cap of $4.02 billion, a price-to-earnings ratio of -2.68 and a beta of 6.71.
Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $79.53 million during the quarter, compared to the consensus estimate of $92.04 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The company's revenue for the quarter was down 55.6% compared to the same quarter last year. Equities research analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. HC Wainwright lowered Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Roth Mkm restated a "buy" rating and issued a $20.00 price target on shares of Core Scientific in a research report on Thursday, June 26th. Citigroup downgraded Core Scientific from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Oppenheimer restated a "market perform" rating on shares of Core Scientific in a research note on Monday, July 7th. Finally, Macquarie cut Core Scientific from a "strong-buy" rating to a "hold" rating and set a $15.00 price target for the company. in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.32.
View Our Latest Research Report on Core Scientific
Core Scientific Profile
(
Free Report)
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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