Moody National Bank Trust Division Has $1.60 Million Stock Position in Core Scientific, Inc. $CORZ

Moody National Bank Trust Division lowered its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 42.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,660 shares of the company’s stock after selling 46,482 shares during the period. Moody National Bank Trust Division’s holdings in Core Scientific were worth $1,603,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CORZ. Allworth Financial LP grew its stake in Core Scientific by 206.5% during the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after buying an additional 950 shares in the last quarter. Larson Financial Group LLC increased its holdings in Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after buying an additional 1,686 shares during the period. Osaic Holdings Inc. raised its position in shares of Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after buying an additional 1,066 shares in the last quarter. Danske Bank A S acquired a new position in shares of Core Scientific in the 4th quarter valued at approximately $36,000. Finally, CoreCap Advisors LLC bought a new stake in shares of Core Scientific during the 2nd quarter worth approximately $36,000.

Core Scientific Trading Down 4.6%

CORZ opened at $21.77 on Thursday. The company has a market cap of $7.00 billion, a P/E ratio of -4.93 and a beta of 5.59. The company’s 50 day moving average is $24.84 and its 200-day moving average is $20.93. Core Scientific, Inc. has a 1-year low of $13.14 and a 1-year high of $30.46.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The company had revenue of $164.20 million for the quarter, compared to analyst estimates of $144.83 million. On average, equities analysts forecast that Core Scientific, Inc. will post -1.36 EPS for the current year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $22.23, for a total transaction of $222,300.00. Following the sale, the insider owned 1,979,101 shares of the company’s stock, valued at approximately $43,995,415.23. The trade was a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 90,000 shares of company stock worth $2,248,600 over the last quarter. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CORZ shares. Needham & Company LLC increased their price target on shares of Core Scientific from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. Keefe, Bruyette & Woods upgraded Core Scientific from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $25.00 to $28.00 in a research note on Thursday, July 30th. Capital One Financial set a $33.00 target price on Core Scientific in a report on Thursday, July 30th. Finally, B. Riley Financial lifted their price target on Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.18.

Core Scientific Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.