The Manufacturers Life Insurance Company Makes New Investment in Core Scientific, Inc. (NASDAQ:CORZ)

The Manufacturers Life Insurance Company purchased a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 64,328 shares of the company’s stock, valued at approximately $598,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Banque Cantonale Vaudoise acquired a new position in Core Scientific during the 2nd quarter worth $28,000. Aspect Partners LLC acquired a new position in shares of Core Scientific during the 1st quarter worth about $29,000. Hexagon Capital Partners LLC bought a new stake in shares of Core Scientific in the 1st quarter valued at about $34,000. Rise Advisors LLC acquired a new stake in shares of Core Scientific in the 2nd quarter valued at approximately $65,000. Finally, Fiduciary Alliance LLC bought a new position in Core Scientific during the 1st quarter worth approximately $84,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on CORZ. Macquarie initiated coverage on shares of Core Scientific in a report on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 target price on the stock. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $14.50 target price on shares of Core Scientific in a research note on Tuesday, July 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd. B. Riley increased their price objective on Core Scientific from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Canaccord Genuity Group initiated coverage on Core Scientific in a research note on Monday, September 23rd. They issued a “buy” rating and a $16.00 target price on the stock. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $15.27.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $12.97 on Wednesday. The business’s 50 day moving average price is $10.96 and its two-hundred day moving average price is $8.13. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $13.42.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The firm had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The firm’s revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts expect that Core Scientific, Inc. will post 0.01 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $108,986.62. Following the completion of the sale, the insider now directly owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the sale, the insider now owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Denise Marie Brucia Sterling sold 8,752 shares of Core Scientific stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $82,356.32. Following the completion of the transaction, the chief financial officer now directly owns 122,217 shares in the company, valued at $1,150,061.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 12,761 shares of company stock worth $127,080. Company insiders own 32.00% of the company’s stock.

About Core Scientific

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.