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

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Core Scientific in the first quarter valued at approximately $50,000. GAMMA Investing LLC grew its holdings in Core Scientific by 1,722.3% during the first quarter. GAMMA Investing LLC now owns 8,565 shares of the company's stock worth $62,000 after acquiring an additional 8,095 shares during the period. Merit Financial Group LLC acquired a new position in Core Scientific during the first quarter worth $74,000. KBC Group NV grew its holdings in Core Scientific by 34.7% during the first quarter. KBC Group NV now owns 10,887 shares of the company's stock worth $79,000 after acquiring an additional 2,805 shares during the period. Finally, Red Spruce Capital LLC acquired a new position in Core Scientific during the first quarter worth $92,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citizens Jmp lowered Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Monday, July 14th. Craig Hallum downgraded Core Scientific from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 7th. Roth Mkm reiterated a "buy" rating and set a $20.00 target price on shares of Core Scientific in a research report on Thursday, June 26th. B. Riley downgraded Core Scientific from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Finally, JMP Securities reiterated a "market perform" rating and set a $15.00 target price on shares of Core Scientific in a research report on Monday, July 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $18.32.

Core Scientific Trading Up 0.5%

CORZ stock traded up $0.07 during trading on Tuesday, hitting $13.34. The company had a trading volume of 6,432,792 shares, compared to its average volume of 13,978,812. The company has a fifty day moving average price of $12.74 and a two-hundred day moving average price of $11.04. The company has a market cap of $3.97 billion, a P/E ratio of -2.65 and a beta of 6.71. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly 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 company had revenue of $79.53 million during the quarter, compared to analyst estimates of $92.04 million. Core Scientific's quarterly revenue was down 55.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. On average, analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Yadin Rozov acquired 110,000 shares of Core Scientific stock in a transaction dated Wednesday, May 28th. The stock was bought at an average cost of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the transaction, the director directly owned 475,687 shares of the company's stock, valued at approximately $5,170,717.69. This represents a 30.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 7,759 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 2,049,689 shares of the company's stock, valued at $25,395,646.71. This represents a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,759 shares of company stock valued at $1,391,434. 1.40% of the stock is currently owned by corporate insiders.

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.