Bank of Hawaii Buys Shares of 77,050 Core Scientific, Inc. (NASDAQ:CORZ)

Bank of Hawaii bought a new position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 77,050 shares of the company's stock, valued at approximately $1,083,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Core Scientific by 25.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company's stock valued at $1,378,000 after buying an additional 20,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Core Scientific by 48.0% in the third quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company's stock valued at $5,192,000 after acquiring an additional 142,068 shares in the last quarter. FNY Investment Advisers LLC boosted its stake in shares of Core Scientific by 35.8% in the fourth quarter. FNY Investment Advisers LLC now owns 190,747 shares of the company's stock worth $2,679,000 after acquiring an additional 50,275 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Core Scientific during the fourth quarter worth about $527,000. Finally, FMR LLC bought a new stake in Core Scientific during the 3rd quarter valued at approximately $2,903,000.

Core Scientific Stock Performance

CORZ stock traded down $0.31 during midday trading on Tuesday, reaching $6.75. The company's stock had a trading volume of 3,446,621 shares, compared to its average volume of 12,324,885. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -1.25 and a beta of 6.80. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The stock has a fifty day simple moving average of $9.28 and a two-hundred day simple moving average of $12.69.

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Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $94.93 million for the quarter, compared to the consensus estimate of $97.07 million. As a group, analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Craig Hallum started coverage on shares of Core Scientific in a report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research note on Tuesday, March 11th. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research note on Wednesday, March 12th. Cantor Fitzgerald cut their price objective on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Finally, Compass Point dropped their price target 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 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 currently has a consensus rating of "Buy" and a consensus target price of $19.07.

Insider Activity at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 25,277 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $410,498.48. Following the transaction, the insider now owns 2,023,423 shares of the company's stock, valued at approximately $32,860,389.52. This trade represents a 1.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the completion of the sale, the chief executive officer now directly owns 3,758,793 shares of the company's stock, valued at $61,042,798.32. The trade was a 8.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 530,041 shares of company stock worth $7,870,352. Company insiders own 32.00% of the company's stock.

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.