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

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

A number of other large investors have also modified their holdings of the company. Red Door Wealth Management LLC raised its holdings in Core Scientific by 124.3% during the fourth quarter. Red Door Wealth Management LLC now owns 95,378 shares of the company's stock worth $1,340,000 after purchasing an additional 52,851 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Core Scientific by 27.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 629,329 shares of the company's stock valued at $8,842,000 after acquiring an additional 136,212 shares in the last quarter. Duncan Williams Asset Management LLC purchased a new stake in Core Scientific in the 4th quarter worth about $141,000. KBC Group NV acquired a new stake in shares of Core Scientific during the fourth quarter worth approximately $114,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in Core Scientific in the 4th quarter worth approximately $421,000.

Core Scientific Trading Up 5.6%

Core Scientific stock traded up $0.60 during midday trading on Tuesday, reaching $11.28. The company's stock had a trading volume of 9,641,974 shares, compared to its average volume of 13,307,078. The business has a 50-day moving average price of $8.38 and a 200-day moving average price of $11.79. Core Scientific, Inc. has a 52 week low of $4.46 and a 52 week high of $18.63. The stock has a market cap of $3.36 billion, a PE ratio of -2.09 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its 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 firm had revenue of $79.53 million during the quarter, compared to the consensus estimate of $92.04 million. During the same quarter in the prior year, the business posted $0.78 earnings per share. Core Scientific's revenue for the quarter was down 55.6% compared to the same quarter last year. As a group, research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JMP Securities started coverage on Core Scientific in a report on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 price objective on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research report on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 target price on shares of Core Scientific in a research report on Friday, May 16th. Citizens Jmp raised Core Scientific to a "strong-buy" rating and set a $15.00 price objective for the company in a report on Thursday, May 22nd. Finally, Oppenheimer initiated coverage on Core Scientific in a research report on Wednesday, May 14th. They issued an "outperform" rating and a $15.00 price objective for the company. Eighteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $18.33.

Insiders Place Their Bets

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

Core Scientific Company 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.