KBC Group NV Takes Position in Core Scientific, Inc. (NASDAQ:CORZ)

KBC Group NV bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,082 shares of the company’s stock, valued at approximately $114,000.

Several other institutional investors also recently bought and sold shares of CORZ. Rise Advisors LLC increased its position in shares of Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after acquiring an additional 1,000 shares during the period. Arkadios Wealth Advisors purchased a new position in shares of Core Scientific during the third quarter valued at about $119,000. Sanctuary Advisors LLC purchased a new position in shares of Core Scientific during the 2nd quarter worth approximately $140,000. Duncan Williams Asset Management LLC bought a new position in shares of Core Scientific in the 4th quarter worth approximately $141,000. Finally, OLD National Bancorp IN purchased a new position in Core Scientific during the third quarter valued at $164,000.

Core Scientific Stock Performance

Shares of Core Scientific stock opened at $12.56 on Friday. The stock’s fifty day moving average is $14.61 and its 200 day moving average is $13.06. The stock has a market cap of $3.51 billion and a P/E ratio of -2.32. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $95.35 million during the quarter, compared to analyst estimates of $94.80 million. Analysts predict that Core Scientific, Inc. will post 0.5 EPS for the current year.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the completion of the transaction, the insider now directly owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the completion of the sale, the chief executive officer now owns 4,128,505 shares in the company, valued at $58,789,911.20. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 744,032 shares of company stock valued at $11,863,966. 32.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective on the stock. Macquarie raised their price target on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research note on Monday, January 27th. They issued an “outperform” rating and a $22.00 price target on the stock. HC Wainwright upped their price objective on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Craig Hallum began coverage on Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price objective for the company. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Core Scientific has a consensus rating of “Buy” and a consensus target price of $19.07.

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.