Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Core Scientific, Inc. $CORZ

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the second quarter, Holdings Channel reports. The fund purchased 1,639,358 shares of the company’s stock, valued at approximately $41,951,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Xponance LLC boosted its holdings in Core Scientific by 2.5% in the fourth quarter. Xponance LLC now owns 22,896 shares of the company’s stock worth $333,000 after purchasing an additional 562 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Core Scientific by 0.7% during the second quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company’s stock valued at $2,418,000 after buying an additional 700 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Core Scientific by 5.2% in the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after buying an additional 766 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Core Scientific by 34.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock worth $78,000 after acquiring an additional 782 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Core Scientific by 4.2% during the 4th quarter. Bank of Montreal Can now owns 21,592 shares of the company’s stock worth $314,000 after acquiring an additional 869 shares in the last quarter.

Insiders Place Their Bets

In related news, Director Eric Stanton Weiss purchased 7,000 shares of Core Scientific stock in a transaction on Tuesday, August 18th. The stock was purchased at an average cost 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. This trade represents a 2.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $19.97, for a total transaction of $199,700.00. Following the transaction, the insider owned 1,969,101 shares in the company, valued at approximately $39,322,946.97. The trade was a 0.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 90,000 shares of company stock worth $2,185,800 in the last ninety days. 1.70% of the stock is currently owned by insiders.

Core Scientific Stock Down 3.0%

Shares of NASDAQ:CORZ opened at $17.27 on Tuesday. The business has a 50 day moving average price of $22.75 and a 200 day moving average price of $21.01. Core Scientific, Inc. has a twelve month low of $13.14 and a twelve month high of $30.46. The company has a market cap of $5.55 billion, a price-to-earnings ratio of -3.91 and a beta of 5.59.

Core Scientific (NASDAQ:CORZ) last issued 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 during the quarter, compared to the consensus estimate of $144.83 million. Analysts anticipate that Core Scientific, Inc. will post -1.36 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Canaccord Genuity Group increased their price target on Core Scientific from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Loop Capital set a $40.00 price target on shares of Core Scientific in a research report on Friday, June 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a research note on Friday, July 17th. Finally, Wolfe Research reaffirmed a “buy” rating on shares of Core Scientific in a report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.18.

Core Scientific Profile

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.