Vident Advisory LLC Purchases 546,270 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Vident Advisory LLC increased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 33.2% during the 4th quarter, Holdings Channel reports. The fund owned 2,192,225 shares of the company’s stock after buying an additional 546,270 shares during the quarter. Vident Advisory LLC’s holdings in Core Scientific were worth $30,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CORZ. Wellington Shields & Co. LLC bought a new position in Core Scientific during the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. acquired a new stake in Core Scientific during the 4th quarter worth approximately $34,000. Newbridge Financial Services Group Inc. acquired a new stake in Core Scientific during the 4th quarter worth approximately $42,000. Vestcor Inc acquired a new stake in Core Scientific during the 4th quarter worth approximately $66,000. Finally, US Bancorp DE acquired a new stake in Core Scientific during the 4th quarter worth approximately $99,000.

Insider Buying and Selling

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. The trade was a 40.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jordan Levy acquired 62,500 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the acquisition, the director now owns 306,887 shares of the company’s stock, valued at approximately $2,458,164.87. The trade was a 25.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on CORZ shares. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Core Scientific in a report on Friday. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a report on Tuesday, March 11th. Oppenheimer started coverage on shares of Core Scientific in a report on Wednesday. They set an “outperform” rating and a $15.00 target price on the stock. Cantor Fitzgerald dropped their target price on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a report on Friday, May 9th. Sixteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Core Scientific has a consensus rating of “Buy” and an average target price of $18.75.

Core Scientific Stock Up 2.6%

NASDAQ CORZ opened at $10.78 on Monday. Core Scientific, Inc. has a 12-month low of $3.68 and a 12-month high of $18.63. The company has a market capitalization of $3.21 billion, a PE ratio of -1.99 and a beta of 6.66. The firm’s 50 day moving average is $8.12 and its 200-day moving average is $11.95.

Core Scientific (NASDAQ:CORZ) last issued its earnings results 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 firm had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. Core Scientific’s quarterly revenue was down 55.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. As a group, sell-side analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current year.

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.