Allianz Asset Management GmbH Invests $10.37 Million in Core Scientific, Inc. $CORZ

Allianz Asset Management GmbH acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 607,324 shares of the company’s stock, valued at approximately $10,367,000. Allianz Asset Management GmbH owned approximately 0.20% of Core Scientific as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CORZ. GAMMA Investing LLC lifted its position in shares of Core Scientific by 1,722.3% in the first quarter. GAMMA Investing LLC now owns 8,565 shares of the company’s stock worth $62,000 after purchasing an additional 8,095 shares in the last quarter. SG Americas Securities LLC bought a new stake in Core Scientific during the first quarter worth $347,000. Oppenheimer Asset Management Inc. raised its position in Core Scientific by 229.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 37,501 shares of the company’s stock worth $272,000 after acquiring an additional 26,135 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Core Scientific during the first quarter worth $50,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Core Scientific by 127.3% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 500,000 shares of the company’s stock worth $3,620,000 after acquiring an additional 280,000 shares in the last quarter.

Core Scientific Price Performance

Shares of CORZ opened at $19.23 on Wednesday. The firm has a market capitalization of $5.91 billion, a PE ratio of -34.34 and a beta of 6.58. The company’s 50-day moving average is $16.16 and its 200-day moving average is $13.07. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $20.36.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. The company had revenue of $78.63 million during the quarter, compared to the consensus estimate of $82.09 million. Core Scientific’s revenue was down 44.3% compared to the same quarter last year. Analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CORZ has been the topic of several analyst reports. Barclays lowered shares of Core Scientific to an “underweight” rating in a research report on Tuesday, July 8th. Arete Research raised shares of Core Scientific to a “strong-buy” rating in a research report on Tuesday, July 22nd. Macquarie upped their price target on shares of Core Scientific from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a research report on Wednesday, October 8th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $20.00 price target on shares of Core Scientific in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Core Scientific currently has an average rating of “Hold” and a consensus price target of $18.71.

Core Scientific Company Profile

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.