Handelsbanken Fonder AB Acquires 27,800 Shares of Core Scientific, Inc. $CORZ

Handelsbanken Fonder AB grew its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 42.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,800 shares of the company’s stock after acquiring an additional 27,800 shares during the period. Handelsbanken Fonder AB’s holdings in Core Scientific were worth $1,366,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CORZ. AQR Capital Management LLC raised its position in Core Scientific by 106.1% in the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock worth $2,052,000 after acquiring an additional 145,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Core Scientific by 180.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock worth $8,032,000 after acquiring an additional 714,388 shares during the period. Cetera Investment Advisers raised its position in Core Scientific by 200.0% in the second quarter. Cetera Investment Advisers now owns 38,819 shares of the company’s stock worth $663,000 after acquiring an additional 25,878 shares during the period. Franklin Resources Inc. bought a new position in Core Scientific in the second quarter worth approximately $181,000. Finally, Russell Investments Group Ltd. raised its position in Core Scientific by 61.9% in the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock worth $67,000 after acquiring an additional 1,507 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CORZ shares. Keefe, Bruyette & Woods increased their price objective on shares of Core Scientific from $19.00 to $25.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Wall Street Zen raised shares of Core Scientific to a “sell” rating in a research note on Saturday, March 14th. LADENBURG THALM/SH SH reduced their price objective on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Canaccord Genuity Group set a $30.00 price objective on shares of Core Scientific in a research note on Friday, May 8th. Finally, Cantor Fitzgerald increased their price objective on shares of Core Scientific from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.14.

Insiders Place Their Bets

In related news, insider Todd M. Duchene sold 10,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $20.86, for a total transaction of $208,600.00. Following the completion of the transaction, the insider directly owned 1,980,348 shares of the company’s stock, valued at approximately $41,310,059.28. This trade represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 50,000 shares of company stock worth $933,400 over the last three months. Company insiders own 1.70% of the company’s stock.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $26.37 on Wednesday. The stock has a market cap of $8.38 billion, a PE ratio of -23.13 and a beta of 5.45. The firm has a fifty day moving average price of $19.79 and a 200-day moving average price of $17.85. Core Scientific, Inc. has a 1 year low of $10.45 and a 1 year high of $26.83.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The company had revenue of $115.24 million for the quarter, compared to the consensus estimate of $117.04 million. The business’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same period last year, the firm earned $1.25 earnings per share. On average, research analysts expect that Core Scientific, Inc. will post 0.11 EPS for the current year.

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.