Legal & General Group Plc Invests $5.29 Million in Core Scientific, Inc. $CORZ

Legal & General Group Plc acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ) in the 2nd quarter, HoldingsChannel reports. The fund acquired 206,626 shares of the company’s stock, valued at approximately $5,288,000.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased 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 purchasing an additional 950 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Core Scientific by 936.7% during the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after buying an additional 1,686 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after buying an additional 1,066 shares in the last quarter. Danske Bank A S bought a new position in Core Scientific in the 4th quarter worth approximately $36,000. Finally, CoreCap Advisors LLC purchased a new position in Core Scientific in the 2nd quarter valued at approximately $36,000.

Insider Activity at Core Scientific

In other Core Scientific news, Director Eric Weiss purchased 7,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were purchased at an average price of $19.19 per share, with a total value of $134,330.00. Following the acquisition, the director directly owned 259,262 shares in the company, valued at approximately $4,975,237.78. The trade was a 2.77% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $17.45, for a total value of $174,500.00. Following the sale, the insider owned 1,937,896 shares of the company’s stock, valued at approximately $33,816,285.20. This trade represents a 0.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 100,000 shares of company stock valued at $2,360,300. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CORZ shares. B. Riley Financial boosted their target price on shares of Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $32.00 price target on shares of Core Scientific in a research report on Wednesday, June 3rd. Needham & Company LLC boosted their price objective on Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a report on Friday, July 17th. Finally, BTIG Research restated a “buy” rating and issued a $38.00 target price on shares of Core Scientific in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Core Scientific currently has an average rating of “Moderate Buy” and an average price target of $32.18.

Core Scientific Price Performance

NASDAQ CORZ opened at $17.90 on Friday. Core Scientific, Inc. has a 1 year low of $13.14 and a 1 year high of $30.46. The stock has a market capitalization of $5.75 billion, a PE ratio of -4.05 and a beta of 5.48. The company’s 50 day simple moving average is $20.92 and its two-hundred day simple moving average is $21.00.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $144.83 million. On average, research analysts anticipate that Core Scientific, Inc. will post -1.36 EPS for the current year.

About Core Scientific

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.