Comerica Bank Raises Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Comerica Bank raised its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 1.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,001,378 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Comerica Bank’s holdings in Core Scientific were worth $56,219,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CORZ. Vanguard Group Inc. raised its holdings in Core Scientific by 54.3% in the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock valued at $272,270,000 after buying an additional 6,819,406 shares during the period. ORG Wealth Partners LLC increased its position in shares of Core Scientific by 0.3% during the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock valued at $126,262,000 after acquiring an additional 26,649 shares during the last quarter. FMR LLC raised its stake in shares of Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company’s stock valued at $104,479,000 after acquiring an additional 7,191,428 shares during the period. Two Seas Capital LP lifted its holdings in shares of Core Scientific by 9.2% in the 4th quarter. Two Seas Capital LP now owns 6,232,888 shares of the company’s stock worth $87,572,000 after acquiring an additional 527,097 shares during the last quarter. Finally, Helix Partners Management LP purchased a new position in shares of Core Scientific during the 4th quarter worth approximately $86,498,000.

Insider Activity at Core Scientific

In related news, Director Jordan Levy purchased 62,500 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $8.01 per share, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Todd A. Becker sold 134,250 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the completion of the transaction, the director now owns 195,687 shares of the company’s stock, valued at $2,103,635.25. This represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Core Scientific Trading Up 0.6 %

Shares of CORZ stock opened at $8.29 on Wednesday. The company has a market cap of $2.44 billion, a P/E ratio of -1.53 and a beta of 6.80. The firm has a fifty day moving average price of $8.15 and a 200 day moving average price of $12.31. Core Scientific, Inc. has a 12 month low of $2.88 and a 12 month high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. On average, equities analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CORZ shares. Compass Point cut their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. 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. Canaccord Genuity Group restated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a report on Wednesday, March 12th. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research note on Monday, January 27th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Needham & Company LLC reduced their price target on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $19.07.

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.