Northern Trust Corp Boosts Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Northern Trust Corp raised its holdings in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,836,018 shares of the company's stock after purchasing an additional 114,618 shares during the quarter. Northern Trust Corp owned 0.66% of Core Scientific worth $25,796,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

CORZ has been the topic of a number of recent analyst reports. Craig Hallum began coverage on shares of Core Scientific in a report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target on the stock. 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 target price on the stock. Canaccord Genuity Group restated a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Friday, May 9th. Needham & Company LLC reduced their price target on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Compass Point cut their price objective on Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Sixteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Core Scientific presently has a consensus rating of "Buy" and an average price target of $18.81.

Insider Activity at Core Scientific

In other Core Scientific news, Director Jordan Levy bought 62,500 shares of the business's stock in a transaction on 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 completion of the purchase, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. The trade was a 25.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Todd A. Becker sold 134,250 shares of the company's stock in a transaction on Monday, March 3rd. The shares were 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 in the company, valued at approximately $2,103,635.25. This trade represents a 40.69% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Core Scientific Stock Up 0.8%

Shares of Core Scientific stock traded up $0.08 during trading hours on Wednesday, reaching $10.32. 13,713,477 shares of the company's stock were exchanged, compared to its average volume of 13,037,144. The business has a fifty day moving average of $7.98 and a two-hundred day moving average of $12.03. The company has a market capitalization of $3.07 billion, a P/E ratio of -1.91 and a beta of 6.66. Core Scientific, Inc. has a 1 year low of $3.46 and a 1 year high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million during the quarter, compared to analyst estimates of $92.04 million. During the same quarter in the previous year, the company posted $0.78 EPS. The firm's revenue was down 55.6% on a year-over-year basis. As a group, research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current 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.