Bank of New York Mellon Corp Has $11.72 Million Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Bank of New York Mellon Corp boosted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 62.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 834,077 shares of the company's stock after purchasing an additional 321,738 shares during the period. Bank of New York Mellon Corp owned approximately 0.30% of Core Scientific worth $11,719,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CORZ. First Horizon Advisors Inc. purchased a new position in Core Scientific in the fourth quarter valued at approximately $34,000. Joel Isaacson & Co. LLC increased its position in shares of Core Scientific by 4.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company's stock worth $815,000 after acquiring an additional 2,500 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Core Scientific in the 4th quarter valued at $42,000. Pekin Hardy Strauss Inc. raised its stake in shares of Core Scientific by 25.4% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 30,725 shares of the company's stock valued at $364,000 after acquiring an additional 6,225 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Core Scientific by 17.0% during the 4th quarter. Vontobel Holding Ltd. now owns 44,566 shares of the company's stock valued at $626,000 after acquiring an additional 6,477 shares in the last quarter.

Insider Activity

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the transaction, the chief executive officer now owns 3,758,793 shares of the company's stock, valued at approximately $61,042,798.32. The trade was a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 25,277 shares of the firm's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 748,282 shares of company stock worth $10,978,104. Insiders own 32.00% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CORZ. Needham & Company LLC lowered their price target on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. BTIG Research raised their target price on Core Scientific from $19.00 to $20.00 and gave the company a "buy" rating in a report on Monday, December 16th. Craig Hallum began coverage on Core Scientific in a report on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price target for the company. Compass Point lowered their target price 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. Finally, Cantor Fitzgerald decreased their price target on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $19.07.

Core Scientific Trading Down 0.6 %

NASDAQ:CORZ traded down $0.05 during mid-day trading on Monday, hitting $8.76. The company's stock had a trading volume of 11,887,624 shares, compared to its average volume of 10,858,502. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -1.62 and a beta of 6.83. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The stock has a fifty day moving average of $12.08 and a 200-day moving average of $13.24.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09. The firm had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. On average, equities analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal 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.