Clear Street Group Inc. Buys New Shares in Core Scientific, Inc. $CORZ

Clear Street Group Inc. purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, HoldingsChannel reports. The fund purchased 52,165 shares of the company’s stock, valued at approximately $760,000.

Several other large investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Core Scientific by 206.5% in the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after purchasing an additional 950 shares during the period. Larson Financial Group LLC boosted its position in Core Scientific by 936.7% in the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after buying an additional 1,686 shares during the last quarter. Osaic Holdings Inc. increased its holdings in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after buying an additional 1,066 shares during the period. Danske Bank A S purchased a new position in Core Scientific during the 4th quarter worth approximately $36,000. Finally, Russell Investments Group Ltd. lifted its stake in Core Scientific by 61.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after acquiring an additional 1,507 shares during the period.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $26.85, for a total transaction of $268,500.00. Following the transaction, the insider owned 2,068,895 shares in the company, valued at approximately $55,549,830.75. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 70,000 shares of company stock valued at $1,464,400. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CORZ. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Core Scientific in a report on Wednesday, June 3rd. B. Riley Financial boosted their target price on shares of Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Core Scientific to a “sell” rating in a report on Saturday, March 14th. BTIG Research lifted their price objective on Core Scientific from $23.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Cantor Fitzgerald boosted their price objective on Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.49.

Core Scientific Stock Performance

CORZ stock opened at $28.22 on Tuesday. The firm has a market cap of $8.97 billion, a PE ratio of -24.75 and a beta of 5.49. The firm’s fifty day moving average is $23.01 and its 200 day moving average is $18.93. Core Scientific, Inc. has a one year low of $10.93 and a one year high of $30.46.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The business had revenue of $115.24 million for the quarter, compared to analyst estimates of $117.04 million. During the same period in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 44.9% on a year-over-year basis. Research analysts predict that Core Scientific, Inc. will post 0.08 earnings per share for the current fiscal year.

Core Scientific Company 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.