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Vontobel Holding Ltd. Buys 20,800 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Core Scientific logo with Finance background

Vontobel Holding Ltd. raised its position in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 46.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,366 shares of the company's stock after acquiring an additional 20,800 shares during the quarter. Vontobel Holding Ltd.'s holdings in Core Scientific were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Core Scientific by 62.8% during the 4th quarter. Bank of New York Mellon Corp now owns 834,077 shares of the company's stock worth $11,719,000 after purchasing an additional 321,738 shares in the last quarter. US Bancorp DE bought a new position in shares of Core Scientific during the 4th quarter worth about $99,000. Charles Schwab Investment Management Inc. boosted its position in shares of Core Scientific by 23.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,392,092 shares of the company's stock worth $33,609,000 after purchasing an additional 459,630 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Core Scientific by 12.2% during the 4th quarter. Victory Capital Management Inc. now owns 29,890 shares of the company's stock worth $420,000 after purchasing an additional 3,257 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Core Scientific by 46.4% during the 4th quarter. Arizona State Retirement System now owns 56,190 shares of the company's stock worth $789,000 after purchasing an additional 17,797 shares in the last quarter.

Core Scientific Trading Down 2.2%

Shares of CORZ stock traded down $0.31 during trading hours on Wednesday, hitting $13.71. 5,617,537 shares of the company were exchanged, compared to its average volume of 13,733,816. The firm has a fifty day simple moving average of $11.95 and a 200 day simple moving average of $11.13. Core Scientific, Inc. has a 52-week low of $6.20 and a 52-week high of $18.63. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -2.72 and a beta of 6.71.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate 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. The company's revenue for the quarter was down 55.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. Sell-side analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current year.

Insider Activity at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 60,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total value of $679,800.00. Following the completion of the transaction, the insider directly owned 2,100,102 shares of the company's stock, valued at $23,794,155.66. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yadin Rozov purchased 110,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was purchased at an average cost of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the acquisition, the director owned 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 disclosure for this purchase can be found here. Over the last ninety days, insiders sold 117,759 shares of company stock valued at $1,391,434. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $18.00 price objective on shares of Core Scientific in a research report on Friday, June 27th. JMP Securities initiated coverage on shares of Core Scientific in a research report on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 price target on the stock. Roth Capital reaffirmed a "neutral" rating and issued a $20.00 price target on shares of Core Scientific in a research report on Tuesday. 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, June 27th. Finally, Citizens Jmp raised shares of Core Scientific to a "strong-buy" rating and set a $15.00 price target on the stock in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Core Scientific presently has an average rating of "Moderate Buy" and a consensus price target of $18.44.

View Our Latest Analysis on CORZ

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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Institutional Ownership by Quarter for Core Scientific (NASDAQ:CORZ)

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