The Manufacturers Life Insurance Company Buys 43,697 Shares of Core Scientific, Inc. $CORZ

The Manufacturers Life Insurance Company increased its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 45.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 139,102 shares of the company’s stock after buying an additional 43,697 shares during the period. The Manufacturers Life Insurance Company’s holdings in Core Scientific were worth $2,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP grew its stake in shares of Core Scientific by 206.5% in the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after acquiring an additional 950 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after purchasing an additional 1,686 shares during the last quarter. 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 worth $34,000 after purchasing an additional 1,066 shares during the last quarter. Danske Bank A S bought a new position in Core Scientific in the 4th quarter worth about $36,000. Finally, State of Wyoming bought a new position in Core Scientific in the 4th quarter worth about $66,000.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $22.23, for a total transaction of $222,300.00. Following the transaction, the insider directly owned 1,979,101 shares of the company’s stock, valued at $43,995,415.23. This represents a 0.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 90,000 shares of company stock worth $2,248,600. 1.70% of the stock is currently owned by insiders.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $21.01 on Monday. The firm’s 50-day moving average price is $24.59 and its 200-day moving average price is $20.96. Core Scientific, Inc. has a 52-week low of $13.14 and a 52-week high of $30.46. The company has a market cap of $6.75 billion, a PE ratio of -4.75 and a beta of 5.59.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share 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 analysts’ expectations of $144.83 million. As a group, equities research analysts anticipate that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CORZ. Capital One Financial set a $33.00 price objective on shares of Core Scientific in a research note on Thursday, July 30th. Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a report on Friday, June 12th. Keefe, Bruyette & Woods raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and raised their price target for the company from $25.00 to $28.00 in a research report on Thursday, July 30th. Freedom Capital upgraded shares of Core Scientific from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Finally, BTIG Research reiterated a “buy” rating and set a $38.00 target price on shares of Core Scientific in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.