Core Scientific, Inc. (NASDAQ:CORZ) Shares Acquired by Swiss National Bank

Swiss National Bank boosted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 46.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,900 shares of the company's stock after purchasing an additional 120,500 shares during the quarter. Swiss National Bank owned approximately 0.14% of Core Scientific worth $5,352,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Core Scientific by 25.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company's stock worth $1,378,000 after buying an additional 20,000 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in Core Scientific in the 3rd quarter worth approximately $18,383,000. Capstone Investment Advisors LLC boosted its holdings in shares of Core Scientific by 113.4% during the 3rd quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company's stock worth $652,000 after purchasing an additional 29,230 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Core Scientific by 44.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,932,462 shares of the company's stock valued at $22,919,000 after purchasing an additional 590,946 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 142,068 shares during the last quarter.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BTIG Research upped 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. Needham & Company LLC cut their price objective on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Craig Hallum began coverage on shares of Core Scientific in a report on Tuesday, January 21st. They issued a "buy" rating and a $24.00 target price on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research note on Wednesday, March 12th. Finally, HC Wainwright reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, March 11th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $19.07.

Insider Activity at Core Scientific

In related news, Director Jordan Levy acquired 62,500 shares of Core Scientific stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the transaction, the director now owns 306,887 shares of the company's stock, valued at $2,458,164.87. This represents a 25.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the completion of the transaction, the chief executive officer now directly owns 3,758,793 shares in the company, valued at $61,042,798.32. This trade represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 748,282 shares of company stock valued at $10,978,104 over the last quarter. 32.00% of the stock is owned by insiders.

Core Scientific Stock Performance

Shares of CORZ traded down $0.40 during midday trading on Friday, hitting $7.48. The company had a trading volume of 44,053,519 shares, compared to its average volume of 11,548,770. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The firm has a market capitalization of $2.20 billion, a P/E ratio of -1.38 and a beta of 6.83. The company's 50-day simple moving average is $11.04 and its 200-day simple moving average is $13.10.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million during the quarter, compared to analysts' expectations of $97.07 million. Equities analysts predict 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.