Glenmede Trust Co. NA Purchases 31,943 Shares of Core Scientific, Inc. $CORZ

Glenmede Trust Co. NA grew its position in Core Scientific, Inc. (NASDAQ:CORZ) by 147.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,640 shares of the company’s stock after buying an additional 31,943 shares during the quarter. Glenmede Trust Co. NA’s holdings in Core Scientific were worth $802,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Core Scientific by 106.1% in the 1st quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock worth $2,052,000 after acquiring an additional 145,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Core Scientific by 180.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock worth $8,032,000 after buying an additional 714,388 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Core Scientific by 200.0% in the 2nd quarter. Cetera Investment Advisers now owns 38,819 shares of the company’s stock worth $663,000 after buying an additional 25,878 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Core Scientific during the 2nd quarter worth approximately $181,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Core Scientific by 61.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock worth $67,000 after acquiring an additional 1,507 shares in the last quarter.

Insider Buying and Selling

In other news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $22.23, for a total value of $222,300.00. Following the transaction, the insider directly owned 1,979,101 shares of the company’s stock, valued at approximately $43,995,415.23. This represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 90,000 shares of company stock worth $2,248,600. Insiders own 1.70% of the company’s stock.

Core Scientific Trading Down 0.2%

Shares of Core Scientific stock opened at $21.01 on Friday. The firm’s 50 day simple moving average is $24.59 and its two-hundred day simple moving average is $20.95. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of -4.75 and a beta of 5.59. Core Scientific, Inc. has a 12-month low of $13.14 and a 12-month high of $30.46.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CORZ shares. B. Riley Financial raised their target price on shares of Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday. Capital One Financial set a $33.00 price objective on Core Scientific in a research report on Thursday, July 30th. Lucid Cap Mkts upgraded Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. Compass Point reaffirmed a “buy” rating and set a $36.00 target price on shares of Core Scientific in a research report on Wednesday, July 29th. Finally, Wolfe Research reiterated a “buy” rating on shares of Core Scientific in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.