Wellington Management Group LLP lifted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ – Free Report) by 45.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,123,721 shares of the company’s stock after purchasing an additional 348,645 shares during the quarter. Wellington Management Group LLP owned about 0.35% of Core Scientific worth $28,756,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its stake in Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after buying an additional 950 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Core Scientific by 936.7% during the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after acquiring an additional 1,686 shares during the period. Osaic Holdings Inc. boosted its position in shares of Core Scientific by 112.1% in the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after acquiring an additional 1,066 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Core Scientific in the fourth quarter worth approximately $36,000. Finally, CoreCap Advisors LLC purchased a new stake in Core Scientific in the second quarter valued at approximately $36,000.
Analysts Set New Price Targets
CORZ has been the topic of a number of research analyst reports. Needham & Company LLC lifted their price target on shares of Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Canaccord Genuity Group upped their price objective on Core Scientific from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Freedom Capital raised Core Scientific from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $32.00 target price on shares of Core Scientific in a report on Wednesday, June 3rd. Finally, Capital One Financial set a $33.00 price target on Core Scientific in a research report on Thursday, July 30th. 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.18.
Insider Activity
In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $17.45, for a total value of $174,500.00. Following the completion of the transaction, the insider owned 1,937,896 shares in the company, valued at $33,816,285.20. This represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth Crain purchased 6,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was bought at an average price of $18.33 per share, with a total value of $109,980.00. Following the acquisition, the director owned 71,348 shares in the company, valued at $1,307,808.84. This trade represents a 9.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 100,000 shares of company stock worth $2,360,300. 1.70% of the stock is currently owned by corporate insiders.
Core Scientific Trading Down 0.1%
NASDAQ:CORZ opened at $17.89 on Friday. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of -4.05 and a beta of 5.48. The firm’s fifty day simple moving average is $20.74 and its 200 day simple moving average is $20.98. Core Scientific, Inc. has a twelve month low of $13.14 and a twelve month high of $30.46.
Core Scientific (NASDAQ:CORZ – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The company had revenue of $164.20 million during the quarter, compared to analysts’ expectations of $144.83 million. On average, analysts predict that Core Scientific, Inc. will post -1.36 earnings per share for the current year.
Core Scientific Profile
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.
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