Lee Danner & Bass Inc. Purchases New Shares in Core Scientific, Inc. $CORZ

Lee Danner & Bass Inc. purchased a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,099 shares of the company’s stock, valued at approximately $343,000.

A number of other institutional investors have also recently modified their holdings of the stock. Covenant Partners LLC bought a new stake in shares of Core Scientific during the 2nd quarter valued at $282,000. Tiptree Advisors LLC bought a new stake in shares of Core Scientific during the 2nd quarter valued at $3,960,000. Sanders Morris Harris LLC bought a new stake in shares of Core Scientific during the 2nd quarter valued at $183,000. Mutual of America Capital Management LLC lifted its position in shares of Core Scientific by 128.8% during the 2nd quarter. Mutual of America Capital Management LLC now owns 602,427 shares of the company’s stock valued at $10,283,000 after acquiring an additional 339,161 shares during the period. Finally, Allianz Asset Management GmbH bought a new stake in shares of Core Scientific during the 2nd quarter valued at $10,367,000.

Wall Street Analysts Forecast Growth

CORZ has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Friday, June 27th. Arete initiated coverage on Core Scientific in a report on Tuesday, July 22nd. They set a “buy” rating and a $20.00 price target for the company. Compass Point initiated coverage on Core Scientific in a report on Monday, September 15th. They set a “buy” rating for the company. Needham & Company LLC cut Core Scientific from a “moderate buy” rating to a “hold” rating and set a $18.00 price target for the company. in a report on Thursday, July 10th. Finally, JMP Securities reissued a “market perform” rating on shares of Core Scientific in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.69.

Core Scientific Price Performance

NASDAQ CORZ opened at $19.34 on Friday. The business has a 50 day simple moving average of $16.42 and a 200 day simple moving average of $13.27. Core Scientific, Inc. has a one year low of $6.20 and a one year high of $20.36. The stock has a market capitalization of $5.94 billion, a P/E ratio of -34.54 and a beta of 6.58.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Friday, October 24th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.39. Equities analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

About Core Scientific

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.