Banque Cantonale Vaudoise Makes New Investment in Core Scientific, Inc. (NASDAQ:CORZ)

Banque Cantonale Vaudoise acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,000 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barings LLC acquired a new position in shares of Core Scientific during the first quarter valued at $36,515,000. Vanguard Group Inc. acquired a new position in shares of Core Scientific during the first quarter valued at $21,973,000. Kensico Capital Management Corp acquired a new position in shares of Core Scientific during the first quarter valued at $18,513,000. Vident Advisory LLC acquired a new position in shares of Core Scientific during the first quarter valued at $4,047,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Core Scientific by 3,236.0% during the second quarter. Bank of New York Mellon Corp now owns 674,043 shares of the company’s stock valued at $6,269,000 after acquiring an additional 653,838 shares during the period.

Insider Buying and Selling

In related news, insider Todd M. Duchene sold 7,321 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the transaction, the insider now directly owns 359,877 shares in the company, valued at $3,379,245.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Todd M. Duchene sold 7,321 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the transaction, the insider now directly owns 359,877 shares in the company, valued at $3,379,245.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Todd M. Duchene sold 3,770 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $9.99, for a total value of $37,662.30. Following the transaction, the insider now owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The disclosure for this sale can be found here. Over the last three months, insiders bought 10,521 shares of company stock worth $102,328 and sold 31,425 shares worth $297,749. 32.00% of the stock is owned by corporate insiders.

Core Scientific Stock Performance

Shares of Core Scientific stock opened at $9.87 on Thursday. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $12.25. The business has a 50-day moving average of $9.98 and a two-hundred day moving average of $6.42.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The business had revenue of $141.10 million during the quarter, compared to the consensus estimate of $128.58 million. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts predict that Core Scientific, Inc. will post 0.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BTIG Research upped their price target on Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $14.50 target price on shares of Core Scientific in a research note on Tuesday, July 2nd. HC Wainwright increased their target price on Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. B. Riley raised Core Scientific from a “neutral” rating to a “buy” rating and increased their target price for the company from $0.50 to $13.00 in a research note on Wednesday, July 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a research note on Tuesday. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Core Scientific presently has an average rating of “Buy” and an average price target of $14.88.

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.