Toronto Dominion Bank Invests $1.48 Million in Core Scientific, Inc. (NASDAQ:CORZ)

Toronto Dominion Bank purchased a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 105,500 shares of the company's stock, valued at approximately $1,482,000.

Several other hedge funds have also bought and sold shares of the stock. Shay Capital LLC grew its holdings in Core Scientific by 6.7% during the fourth quarter. Shay Capital LLC now owns 80,000 shares of the company's stock valued at $1,124,000 after purchasing an additional 5,000 shares during the period. ProShare Advisors LLC boosted its stake in shares of Core Scientific by 52.1% in the fourth quarter. ProShare Advisors LLC now owns 51,261 shares of the company's stock worth $720,000 after acquiring an additional 17,557 shares during the period. Panoramic Capital LLC bought a new position in shares of Core Scientific in the fourth quarter worth about $1,644,000. Parsifal Capital Management LP boosted its stake in shares of Core Scientific by 3.7% in the fourth quarter. Parsifal Capital Management LP now owns 5,615,199 shares of the company's stock worth $78,894,000 after acquiring an additional 202,374 shares during the period. Finally, Man Group plc bought a new position in shares of Core Scientific in the fourth quarter worth about $2,884,000.

Core Scientific Stock Performance

CORZ stock traded up $0.03 during midday trading on Thursday, reaching $10.81. 2,628,520 shares of the company traded hands, compared to its average volume of 13,277,352. Core Scientific, Inc. has a 52-week low of $4.46 and a 52-week high of $18.63. The business has a 50 day moving average of $8.48 and a 200-day moving average of $11.78. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -2.00 and a beta of 6.66.

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 analysts' consensus estimates of ($0.12) by $0.02. The company had revenue of $79.53 million for the quarter, compared to analysts' expectations of $92.04 million. During the same quarter last year, the company earned $0.78 earnings per share. The company's revenue for the quarter was down 55.6% on a year-over-year basis. Research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling at Core Scientific

In other news, Director Todd A. Becker sold 134,250 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the sale, the director now directly owns 195,687 shares in the company, valued at approximately $2,103,635.25. This represents a 40.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jordan Levy purchased 62,500 shares of Core Scientific stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the acquisition, the director now owns 306,887 shares of the company's stock, valued at approximately $2,458,164.87. This trade represents a 25.57% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

CORZ has been the subject of a number of recent analyst reports. JMP Securities initiated coverage on Core Scientific in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Core Scientific in a research note on Friday, May 16th. Oppenheimer initiated coverage on Core Scientific in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $15.00 price objective for the company. Citizens Jmp raised Core Scientific to a "strong-buy" rating and set a $15.00 price objective for the company in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald dropped their price objective on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Eighteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Core Scientific currently has an average rating of "Buy" and an average target price of $18.33.

Core Scientific 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.