First Trust Advisors LP Acquires 50,331 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

First Trust Advisors LP raised its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 33.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 203,036 shares of the company's stock after buying an additional 50,331 shares during the quarter. First Trust Advisors LP owned 0.07% of Core Scientific worth $2,853,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new stake in shares of Core Scientific in the fourth quarter worth $9,301,000. Marshall Wace LLP boosted its holdings in Core Scientific by 233.4% in the 4th quarter. Marshall Wace LLP now owns 1,489,261 shares of the company's stock valued at $20,924,000 after purchasing an additional 1,042,587 shares during the period. EAM Global Investors LLC acquired a new stake in Core Scientific in the 4th quarter worth $3,244,000. EAM Investors LLC acquired a new position in shares of Core Scientific during the fourth quarter valued at about $3,971,000. Finally, Guggenheim Capital LLC bought a new stake in shares of Core Scientific in the fourth quarter valued at about $234,000.

Core Scientific Trading Down 1.0 %

Shares of Core Scientific stock traded down $0.09 during midday trading on Wednesday, reaching $8.90. The company had a trading volume of 12,092,690 shares, compared to its average volume of 12,881,000. The stock has a fifty day simple moving average of $7.99 and a 200 day simple moving average of $12.16. Core Scientific, Inc. has a 1-year low of $3.29 and a 1-year high of $18.63. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -1.65 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.01. Sell-side analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on CORZ shares. Cantor Fitzgerald cut their price target on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a research note on Tuesday, March 11th. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a research note on Monday, January 27th. They set an "outperform" rating and a $22.00 price target on the stock. Needham & Company LLC dropped their price objective on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Compass Point reduced their price objective on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $19.07.

Insiders Place Their Bets

In other news, Director Jordan Levy purchased 62,500 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $8.01 per share, with a total value of $500,625.00. Following the acquisition, the director now directly owns 306,887 shares of the company's stock, valued at approximately $2,458,164.87. This represents a 25.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. The trade was a 40.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

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.