Core Scientific, Inc. $CORZ Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 128.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 602,427 shares of the company’s stock after buying an additional 339,161 shares during the period. Mutual of America Capital Management LLC’s holdings in Core Scientific were worth $10,283,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Core Scientific in the second quarter worth approximately $51,000. Farther Finance Advisors LLC acquired a new stake in shares of Core Scientific in the second quarter worth approximately $65,000. IFP Advisors Inc acquired a new stake in shares of Core Scientific in the second quarter worth approximately $86,000. State of Wyoming acquired a new stake in shares of Core Scientific in the first quarter worth approximately $34,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Core Scientific in the first quarter worth approximately $38,000.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Friday, June 27th. Craig Hallum cut shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 7th. Compass Point initiated coverage on shares of Core Scientific in a research report on Monday, September 15th. They set a “buy” rating on the stock. Jefferies Financial Group lifted their price target on shares of Core Scientific from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $20.00 price target on shares of Core Scientific in a research report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Core Scientific presently has an average rating of “Hold” and an average price target of $18.71.

Core Scientific Stock Down 3.4%

Shares of CORZ stock opened at $19.00 on Monday. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of -33.93 and a beta of 6.58. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $20.36. The firm’s 50 day moving average price is $15.99 and its two-hundred day moving average price is $12.94.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $78.63 million for the quarter, compared to analysts’ expectations of $82.09 million. The company’s quarterly revenue was down 44.3% compared to the same quarter last year. On average, equities analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

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.