Core Scientific, Inc. (NASDAQ:CORZ) Stock Holdings Lifted by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 48.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,917 shares of the company's stock after buying an additional 50,758 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.06% of Core Scientific worth $2,191,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CORZ. Vanguard Group Inc. boosted its position in Core Scientific by 54.3% during the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock worth $272,270,000 after acquiring an additional 6,819,406 shares during the period. ORG Wealth Partners LLC raised its stake in shares of Core Scientific by 0.3% during the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company's stock valued at $126,262,000 after purchasing an additional 26,649 shares in the last quarter. FMR LLC lifted its holdings in Core Scientific by 2,937.7% in the fourth quarter. FMR LLC now owns 7,436,229 shares of the company's stock worth $104,479,000 after purchasing an additional 7,191,428 shares during the period. Helix Partners Management LP bought a new position in Core Scientific in the 4th quarter valued at about $86,498,000. Finally, Geode Capital Management LLC increased its stake in Core Scientific by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 5,532,715 shares of the company's stock valued at $77,756,000 after buying an additional 256,142 shares during the period.

Insider Activity

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now owns 195,687 shares of the company's stock, valued at $2,103,635.25. The trade was a 40.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jordan Levy bought 62,500 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the acquisition, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. This trade represents a 25.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Core Scientific Stock Up 1.4%

Shares of CORZ stock traded up $0.14 during trading hours on Tuesday, reaching $10.02. 3,205,457 shares of the stock traded hands, compared to its average volume of 12,970,326. The firm has a market capitalization of $2.95 billion, a PE ratio of -1.85 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. The business has a fifty day moving average price of $7.93 and a 200 day moving average price of $12.04.

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 firm 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 firm posted $0.78 earnings per share. Research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CORZ shares. Craig Hallum assumed coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price target for the company. Keefe, Bruyette & Woods initiated coverage on Core Scientific in a research report on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price for the company. Cantor Fitzgerald decreased their price target 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. Needham & Company LLC dropped their price objective on Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Compass Point decreased their target price on Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $19.07.

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.