Deutsche Bank AG Grows Position in Core Scientific, Inc. (NASDAQ:CORZ)

Deutsche Bank AG boosted its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 53.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 165,032 shares of the company’s stock after acquiring an additional 57,742 shares during the quarter. Deutsche Bank AG’s holdings in Core Scientific were worth $2,319,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CORZ. Wellington Shields & Co. LLC purchased a new position in shares of Core Scientific during the fourth quarter worth approximately $26,000. First Horizon Advisors Inc. acquired a new stake in Core Scientific during the 4th quarter worth $34,000. Newbridge Financial Services Group Inc. purchased a new position in Core Scientific during the 4th quarter worth $42,000. Vestcor Inc purchased a new position in Core Scientific during the 4th quarter worth $66,000. Finally, US Bancorp DE acquired a new position in Core Scientific in the fourth quarter valued at $99,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reduced their target price on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research report on Friday, May 9th. Citigroup started coverage on Core Scientific in a research note on Thursday. They set an “outperform” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, JMP Securities initiated coverage on Core Scientific in a report on Thursday. They issued a “market outperform” rating and a $15.00 target price on the stock. Nineteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $18.33.

Core Scientific Trading Up 0.5%

Shares of CORZ stock opened at $10.83 on Friday. The stock has a 50 day simple moving average of $8.28 and a 200-day simple moving average of $11.90. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -2.00 and a beta of 6.66. Core Scientific, Inc. has a 12-month low of $3.99 and a 12-month high of $18.63.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. During the same period in the prior year, the company earned $0.78 EPS. The company’s revenue was down 55.6% on a year-over-year basis. On average, equities analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.75, for a total value of $1,443,187.50. Following the completion of the transaction, the director now directly owns 195,687 shares of the company’s stock, valued at approximately $2,103,635.25. This trade represents a 40.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jordan Levy purchased 62,500 shares of Core Scientific stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $8.01 per share, with a total value of $500,625.00. Following the completion of the transaction, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. This trade represents a 25.57% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

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.