Teacher Retirement System of Texas Takes $234,000 Position in Core Scientific, Inc. (NASDAQ:CORZ)

Teacher Retirement System of Texas acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 32,382 shares of the company's stock, valued at approximately $234,000.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Core Scientific by 12.2% during the fourth quarter. Victory Capital Management Inc. now owns 29,890 shares of the company's stock worth $420,000 after buying an additional 3,257 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Core Scientific by 183.7% during the fourth quarter. HighTower Advisors LLC now owns 47,904 shares of the company's stock worth $673,000 after buying an additional 31,018 shares in the last quarter. Swiss National Bank increased its holdings in shares of Core Scientific by 46.3% during the fourth quarter. Swiss National Bank now owns 380,900 shares of the company's stock worth $5,352,000 after buying an additional 120,500 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Core Scientific by 345.0% during the fourth quarter. Natixis Advisors LLC now owns 94,573 shares of the company's stock worth $1,329,000 after buying an additional 73,319 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new position in shares of Core Scientific during the fourth quarter worth $1,411,000.

Insider Activity at Core Scientific

In other news, insider Todd M. Duchene sold 60,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider owned 2,100,102 shares in the company, valued at $23,794,155.66. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yadin Rozov purchased 110,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were bought at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the purchase, the director owned 475,687 shares in the company, valued at $5,170,717.69. The trade was a 30.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 117,759 shares of company stock worth $1,391,434. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

CORZ has been the subject of several research analyst reports. HC Wainwright downgraded shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. BTIG Research downgraded Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 price objective for the company. in a report on Monday, July 7th. Oppenheimer restated a "market perform" rating on shares of Core Scientific in a report on Monday, July 7th. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a report on Friday, June 27th. Finally, Roth Capital restated a "neutral" rating and issued a $20.00 price objective on shares of Core Scientific in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $18.32.

Core Scientific Stock Up 0.1%

CORZ traded up $0.01 during trading on Wednesday, reaching $13.49. 7,959,485 shares of the stock traded hands, compared to its average volume of 14,025,128. The stock has a market capitalization of $4.02 billion, a PE ratio of -2.68 and a beta of 6.71. The stock's 50-day moving average is $12.87 and its 200 day moving average is $11.07. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month 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, topping analysts' consensus estimates of ($0.12) by $0.02. The company had revenue of $79.53 million for the quarter, compared to the consensus estimate of $92.04 million. During the same period last year, the company earned $0.78 EPS. Core Scientific's revenue for the quarter was down 55.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Core Scientific, Inc. will post 0.52 EPS 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.