Vident Advisory LLC Buys 546,270 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Vident Advisory LLC lifted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 33.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,192,225 shares of the company's stock after purchasing an additional 546,270 shares during the period. Vident Advisory LLC owned 0.79% of Core Scientific worth $30,801,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CORZ. Wellington Shields & Co. LLC bought a new stake in shares of Core Scientific during the 4th quarter valued at about $26,000. First Horizon Advisors Inc. acquired a new position in Core Scientific during the 4th quarter worth approximately $34,000. Newbridge Financial Services Group Inc. acquired a new position in Core Scientific during the 4th quarter worth approximately $42,000. Vestcor Inc acquired a new position in Core Scientific during the 4th quarter worth approximately $66,000. Finally, US Bancorp DE acquired a new position in Core Scientific during the 4th quarter worth approximately $99,000.

Insider Buying and Selling at Core Scientific

In related news, Director Jordan Levy purchased 62,500 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $8.01 per share, with a total value of $500,625.00. Following the completion of the acquisition, the director now directly owns 306,887 shares of the company's stock, valued at approximately $2,458,164.87. The trade was a 25.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 195,687 shares of the company's stock, valued at $2,103,635.25. The trade was a 40.69% 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.

Core Scientific Stock Performance

NASDAQ CORZ traded up $0.05 on Thursday, hitting $10.83. 14,423,159 shares of the stock traded hands, compared to its average volume of 13,296,092. The business's fifty day moving average is $8.28 and its two-hundred day moving average is $11.90. Core Scientific, Inc. has a 12 month low of $3.99 and a 12 month high of $18.63. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -2.00 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to the consensus estimate of $92.04 million. During the same period last year, the company posted $0.78 earnings per share. Core Scientific's revenue for the quarter was down 55.6% on a year-over-year basis. Analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on CORZ. Oppenheimer began coverage on Core Scientific in a research note on Wednesday, May 14th. They set an "outperform" rating and a $15.00 price target on the stock. Citizens Jmp initiated coverage on Core Scientific in a research note on Thursday. They set an "outperform" rating and a $15.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and issued a $16.00 price objective on shares of Core Scientific in a research note on Friday, May 16th. Cantor Fitzgerald lowered 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. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Friday, May 9th. Eighteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus 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.