Quantbot Technologies LP Invests $3.69 Million in Core Scientific, Inc. $CORZ

Quantbot Technologies LP bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the second quarter, Holdings Channel reports. The firm bought 144,191 shares of the company’s stock, valued at approximately $3,690,000.

Several other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Core Scientific by 106.1% during the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock valued at $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 grew its position in shares of 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 valued at $8,032,000 after purchasing an additional 714,388 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of 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 purchasing an additional 25,878 shares during the period. Franklin Resources Inc. bought a new position in shares of Core Scientific in the second quarter worth about $181,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Core Scientific by 61.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock worth $67,000 after purchasing an additional 1,507 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Sanford C. Bernstein restated an “outperform” rating and set a $32.00 target price on shares of Core Scientific in a research note on Wednesday, June 3rd. Jefferies Financial Group lifted their price target on Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. B. Riley Financial upped their price target on Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Compass Point reissued a “buy” rating and issued a $36.00 price objective on shares of Core Scientific in a research report on Wednesday, July 29th. Finally, Loop Capital set a $40.00 price objective on shares of Core Scientific in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Core Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.18.

Core Scientific Stock Performance

NASDAQ:CORZ opened at $17.81 on Monday. The firm’s 50-day moving average is $22.97 and its 200-day moving average is $21.01. The company has a market cap of $5.72 billion, a price-to-earnings ratio of -4.03 and a beta of 5.59. Core Scientific, Inc. has a 52-week low of $13.14 and a 52-week high of $30.46.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The company had revenue of $164.20 million for the quarter, compared to analyst estimates of $144.83 million. Equities analysts predict that Core Scientific, Inc. will post -1.36 EPS for the current year.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $19.97, for a total value of $199,700.00. Following the completion of the transaction, the insider owned 1,969,101 shares of the company’s stock, valued at $39,322,946.97. This represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 100,000 shares of company stock worth $2,448,300 in the last 90 days. Insiders own 1.70% of the company’s stock.

About Core Scientific

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.