Canada Pension Plan Investment Board bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 662,000 shares of the company's stock, valued at approximately $9,301,000. Canada Pension Plan Investment Board owned about 0.24% of Core Scientific as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC acquired a new stake in Core Scientific during the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. acquired a new stake in shares of Core Scientific in the fourth quarter valued at $34,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Core Scientific in the fourth quarter valued at $42,000. Vestcor Inc purchased a new position in Core Scientific in the fourth quarter valued at $66,000. Finally, US Bancorp DE acquired a new position in Core Scientific during the 4th quarter worth $99,000.
Insider Transactions at Core Scientific
In other news, Director Jordan Levy purchased 62,500 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $8.01 per share, with a total value of $500,625.00. Following the purchase, the director now directly owns 306,887 shares of the company's stock, valued at $2,458,164.87. The trade was a 25.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $2,103,635.25. The trade was a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.
Core Scientific Price Performance
NASDAQ CORZ traded up $0.78 on Friday, hitting $8.31. 13,719,523 shares of the company's stock were exchanged, compared to its average volume of 12,604,706. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -1.54 and a beta of 6.80. The firm's 50-day moving average price is $8.37 and its two-hundred day moving average price is $12.40. Core Scientific, Inc. has a fifty-two week low of $2.88 and a fifty-two week high of $18.63.
Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to analysts' expectations of $97.07 million. On average, research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have issued reports on CORZ shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research report on Wednesday, March 12th. Compass Point dropped their target price on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Craig Hallum began coverage on Core Scientific in a report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target for the company. Cantor Fitzgerald cut their target price on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC cut their target price on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of "Buy" and a consensus target price of $19.07.
Check Out Our Latest Report on Core Scientific
Core Scientific Profile
(
Free Report)
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.
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