UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 76.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 394,999 shares of the company's stock after purchasing an additional 171,461 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.14% of Core Scientific worth $5,550,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Wellington Shields & Co. LLC purchased a new stake in Core Scientific during the 4th quarter valued at approximately $26,000. First Horizon Advisors Inc. bought a new position in shares of Core Scientific during the fourth quarter worth $34,000. Newbridge Financial Services Group Inc. bought a new position in shares of Core Scientific during the fourth quarter worth $42,000. Vestcor Inc purchased a new position in Core Scientific during the fourth quarter valued at $66,000. Finally, US Bancorp DE bought a new stake in Core Scientific in the 4th quarter valued at $99,000.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Citizens Jmp raised shares of Core Scientific to a "strong-buy" rating and set a $15.00 price objective for the company in a report on Thursday, May 22nd. HC Wainwright reiterated a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Citigroup initiated coverage on Core Scientific in a research note on Thursday, May 22nd. They set an "outperform" rating 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. Finally, Compass Point decreased their price objective on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Eighteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.33.
Check Out Our Latest Analysis on CORZ
Core Scientific Trading Up 2.2%
Shares of NASDAQ CORZ traded up $0.26 during trading hours on Friday, hitting $12.19. 9,227,292 shares of the company traded hands, compared to its average volume of 13,148,338. The company's 50 day moving average price is $8.97 and its 200 day moving average price is $11.55. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month high of $18.63. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -2.25 and a beta of 6.66.
Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to analysts' expectations of $92.04 million. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm's quarterly revenue was down 55.6% compared to the same quarter last year. Equities analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current year.
Insider Buying and Selling
In other Core Scientific news, Director Yadin Rozov bought 110,000 shares of the business's stock in a transaction dated 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 completion of the purchase, the director now owns 475,687 shares in the company, valued at $5,170,717.69. This represents a 30.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the sale, the insider now owns 2,050,102 shares in the company, valued at approximately $25,236,755.62. The trade was a 2.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
About Core Scientific
(
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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