163,347 Shares in Core Scientific, Inc. $CORZ Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the second quarter, Holdings Channel.com reports. The fund acquired 163,347 shares of the company’s stock, valued at approximately $4,180,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Algert Global LLC lifted its position in Core Scientific by 189.8% in the 2nd quarter. Algert Global LLC now owns 364,340 shares of the company’s stock worth $9,323,000 after buying an additional 238,620 shares in the last quarter. Osbon Capital Management LLC purchased a new position in shares of Core Scientific during the 2nd quarter valued at $206,000. Sanctuary Advisors LLC purchased a new position in shares of Core Scientific during the 2nd quarter valued at $817,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Core Scientific in the second quarter worth $41,951,000. Finally, CFO4Life Group LLC acquired a new position in shares of Core Scientific in the second quarter worth $334,000.

Insider Buying and Selling

In other news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $19.97, for a total value of $199,700.00. Following the transaction, the insider owned 1,969,101 shares of the company’s stock, valued at $39,322,946.97. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 100,000 shares of company stock worth $2,360,300 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Core Scientific Stock Performance

CORZ opened at $16.07 on Wednesday. The company has a market cap of $5.16 billion, a PE ratio of -3.64 and a beta of 5.50. The stock has a 50-day moving average of $21.33 and a 200-day moving average of $21.01. Core Scientific, Inc. has a 52-week low of $13.14 and a 52-week high of $30.46.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CORZ shares. Capital One Financial set a $33.00 price objective on Core Scientific in a research report on Thursday, July 30th. Compass Point reaffirmed a “buy” rating and issued a $36.00 target price on shares of Core Scientific in a research report on Wednesday, July 29th. Lucid Cap Mkts raised Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. 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 report on Monday, August 3rd. Finally, Wolfe Research reissued 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 given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average 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.