Harvest Portfolios Group Inc. Acquires 60,746 Shares of Core Scientific, Inc. $CORZ

Harvest Portfolios Group Inc. raised its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 81.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 134,895 shares of the company’s stock after purchasing an additional 60,746 shares during the period. Harvest Portfolios Group Inc.’s holdings in Core Scientific were worth $2,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CORZ. Vanguard Group Inc. increased its stake in shares of Core Scientific by 6.2% in the first quarter. Vanguard Group Inc. now owns 20,578,100 shares of the company’s stock valued at $148,985,000 after buying an additional 1,199,448 shares during the period. Fred Alger Management LLC lifted its stake in shares of Core Scientific by 46.7% in the first quarter. Fred Alger Management LLC now owns 6,473,552 shares of the company’s stock worth $46,869,000 after acquiring an additional 2,059,985 shares during the period. Clearline Capital LP lifted its stake in shares of Core Scientific by 157.8% in the first quarter. Clearline Capital LP now owns 5,403,963 shares of the company’s stock worth $39,125,000 after acquiring an additional 3,308,100 shares during the period. Situational Awareness LP bought a new stake in Core Scientific in the first quarter valued at approximately $32,736,000. Finally, Vident Advisory LLC boosted its holdings in Core Scientific by 11.5% in the first quarter. Vident Advisory LLC now owns 2,445,322 shares of the company’s stock valued at $17,704,000 after acquiring an additional 253,097 shares during the last quarter.

Core Scientific Trading Down 1.9%

NASDAQ:CORZ opened at $20.19 on Friday. Core Scientific, Inc. has a 12 month low of $6.20 and a 12 month high of $23.63. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 134.61 and a beta of 6.59. The firm has a fifty day simple moving average of $17.81 and a two-hundred day simple moving average of $14.29.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Friday, October 24th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.39. The company had revenue of $81.10 million for the quarter, compared to analyst estimates of $107.18 million. Equities analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric Stanton Weiss purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average cost of $21.50 per share, with a total value of $107,500.00. Following the purchase, the director owned 226,687 shares in the company, valued at $4,873,770.50. This represents a 2.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

CORZ has been the subject of several analyst reports. Citigroup lowered shares of Core Scientific from an “outperform” rating to a “market perform” rating in a report on Monday, July 14th. Citizens Jmp cut shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 14th. Sanford C. Bernstein boosted their target price on shares of Core Scientific from $17.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Arete Research raised shares of Core Scientific to a “strong-buy” rating in a research report on Tuesday, July 22nd. Finally, Arete initiated coverage on Core Scientific in a report on Tuesday, July 22nd. They set a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.39.

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.