UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $5.55 Million Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 76.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 394,999 shares of the company's stock after purchasing an additional 171,461 shares during the period. 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 reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wellington Shields & Co. LLC acquired a new stake in shares of Core Scientific during the fourth quarter worth approximately $26,000. First Horizon Advisors Inc. bought a new position in Core Scientific during the 4th quarter valued at $34,000. Newbridge Financial Services Group Inc. acquired a new position in Core Scientific during the 4th quarter worth $42,000. Vestcor Inc bought a new stake in shares of Core Scientific in the 4th quarter worth about $66,000. Finally, US Bancorp DE bought a new stake in shares of Core Scientific in the 4th quarter worth about $99,000.

Insider Activity at Core Scientific

In other Core Scientific news, Director Yadin Rozov bought 110,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was acquired at an average cost of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the purchase, the director now directly owns 475,687 shares in the company, valued at approximately $5,170,717.69. This trade represents a 30.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Todd M. Duchene sold 60,000 shares of Core Scientific stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total transaction of $679,800.00. Following the completion of the transaction, the insider now owns 2,100,102 shares in the company, valued at approximately $23,794,155.66. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Oppenheimer began coverage on shares of Core Scientific in a research report on Wednesday, May 14th. They set an "outperform" rating and a $15.00 price target on the stock. Cantor Fitzgerald dropped their price target on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. JMP Securities began coverage on shares of Core Scientific in a report on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 price objective for the company. Compass Point lowered their target price on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Finally, Needham & Company LLC restated a "buy" rating and issued a $16.00 price target on shares of Core Scientific in a research report on Friday, May 16th. Eighteen investment 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, the stock presently has an average rating of "Buy" and an average price target of $18.33.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ traded down $0.67 on Thursday, hitting $11.89. The company's stock had a trading volume of 11,379,811 shares, compared to its average volume of 13,239,825. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -2.20 and a beta of 6.66. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month high of $18.63. The stock's 50-day moving average is $8.69 and its two-hundred day moving average is $11.60.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping 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. During the same period in the previous year, the company earned $0.78 EPS. The business's revenue for the quarter was down 55.6% compared to the same quarter last year. Equities analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

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.