Swiss National Bank Has $5.35 Million Position in Core Scientific, Inc. (NASDAQ:CORZ)

Swiss National Bank lifted its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 46.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 380,900 shares of the company’s stock after acquiring an additional 120,500 shares during the period. Swiss National Bank owned approximately 0.14% of Core Scientific worth $5,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rush Island Management LP bought a new stake in Core Scientific in the third quarter worth approximately $32,221,000. Taconic Capital Advisors LP increased its stake in shares of Core Scientific by 178.7% in the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after acquiring an additional 1,742,462 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Core Scientific during the 3rd quarter valued at $18,383,000. Geode Capital Management LLC boosted its stake in Core Scientific by 26.7% during the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after acquiring an additional 1,113,285 shares in the last quarter. Finally, Whitefort Capital Management LP grew its holdings in Core Scientific by 337.1% in the third quarter. Whitefort Capital Management LP now owns 1,147,500 shares of the company’s stock worth $13,609,000 after purchasing an additional 885,000 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CORZ shares. Needham & Company LLC cut their price objective on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Craig Hallum initiated coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Cantor Fitzgerald reduced their price target on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a report on Wednesday, March 12th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Core Scientific presently has an average rating of “Buy” and an average price target of $19.07.

Core Scientific Trading Up 9.4 %

Shares of CORZ opened at $9.31 on Tuesday. The stock has a 50 day moving average of $11.41 and a 200 day moving average of $13.18. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -1.72 and a beta of 6.83. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analysts’ expectations of $97.07 million. As a group, equities research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 25,277 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the sale, the insider now directly owns 2,023,423 shares in the company, valued at $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jordan Levy purchased 62,500 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $8.01 per share, with a total value of $500,625.00. Following the purchase, the director now directly owns 306,887 shares in the company, valued at $2,458,164.87. This trade represents a 25.57 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 748,282 shares of company stock valued at $10,978,104. Company insiders own 32.00% of the company’s stock.

Core Scientific 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.