Core Scientific, Inc. $CORZ Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in Core Scientific, Inc. (NASDAQ:CORZFree Report) by 93.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,335 shares of the company’s stock after selling 31,734 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Core Scientific were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Situational Awareness LP raised its stake in shares of Core Scientific by 42.5% during the 4th quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock worth $418,694,000 after buying an additional 8,575,944 shares in the last quarter. Value Aligned Research Advisors LLC purchased a new stake in shares of Core Scientific in the fourth quarter valued at approximately $117,786,000. Vanguard Group Inc. boosted its stake in shares of Core Scientific by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after buying an additional 5,359,710 shares in the last quarter. Fifth Third Bancorp acquired a new position in Core Scientific during the first quarter worth $59,802,000. Finally, Clearline Capital LP grew its holdings in Core Scientific by 274.2% during the fourth quarter. Clearline Capital LP now owns 4,689,443 shares of the company’s stock worth $68,278,000 after acquiring an additional 3,436,127 shares during the period.

Insider Activity

In related news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $22.23, for a total value of $222,300.00. Following the sale, the insider directly owned 1,979,101 shares in the company, valued at $43,995,415.23. The trade was a 0.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 90,000 shares of company stock worth $2,248,600. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CORZ. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a research report on Friday, July 17th. B. Riley Financial boosted their target price on shares of Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday. Keefe, Bruyette & Woods raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $25.00 to $28.00 in a research note on Thursday, July 30th. Wolfe Research reiterated a “buy” rating on shares of Core Scientific in a report on Wednesday, July 29th. Finally, Canaccord Genuity Group raised their price objective on shares of Core Scientific from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.18.

Check Out Our Latest Stock Analysis on Core Scientific

Core Scientific Price Performance

NASDAQ CORZ opened at $21.05 on Friday. The business has a 50 day moving average price of $24.71 and a 200 day moving average price of $20.95. The company has a market capitalization of $6.76 billion, a P/E ratio of -4.76 and a beta of 5.59. Core Scientific, Inc. has a 1-year low of $13.14 and a 1-year high of $30.46.

Core Scientific (NASDAQ:CORZGet Free Report) last posted its earnings results on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The business had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. On average, research analysts expect that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Core Scientific Company Profile

(Free Report)

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.

Further Reading

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

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