26,487 Shares in Core Scientific, Inc. $CORZ Acquired by Patten Group Inc.

Patten Group Inc. bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,487 shares of the company’s stock, valued at approximately $396,000.

Several other hedge funds have also bought and sold shares of CORZ. Allworth Financial LP increased its holdings in shares of Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after buying an additional 950 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Core Scientific by 936.7% during the 4th 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 in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after acquiring an additional 1,066 shares during the last quarter. Danske Bank A S bought a new stake in shares of Core Scientific during the 4th quarter worth $36,000. Finally, Russell Investments Group Ltd. grew 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 in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BTIG Research raised their price target on Core Scientific from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a research report on Monday, April 20th. B. Riley Financial upped their target price on Core Scientific from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Cantor Fitzgerald increased their price target on shares of Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, Loop Capital set a $40.00 price target on shares of Core Scientific in a research note on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.78.

Insider Activity at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction on Monday, June 29th. The shares were sold at an average price of $26.17, for a total value of $261,700.00. Following the transaction, the insider directly owned 2,038,895 shares of the company’s stock, valued at $53,357,882.15. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 90,000 shares of company stock valued at $2,148,400 over the last quarter. 1.70% of the stock is owned by insiders.

Core Scientific Price Performance

CORZ opened at $21.43 on Friday. The stock’s 50 day simple moving average is $25.26 and its 200 day simple moving average is $19.88. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -18.80 and a beta of 5.50. Core Scientific, Inc. has a 1 year low of $12.42 and a 1 year high of $30.46.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data 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 business had revenue of $115.24 million during the quarter, compared to analysts’ expectations of $117.04 million. The business’s revenue was up 44.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. As a group, sell-side analysts anticipate that Core Scientific, Inc. will post 0.08 EPS for the current 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.