Comerica Bank Buys 52,650 Shares of Core Scientific, Inc. $CORZ

Comerica Bank increased its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 1.2% in the third quarter, Holdings Channel.com reports. The firm owned 4,630,416 shares of the company’s stock after buying an additional 52,650 shares during the quarter. Comerica Bank’s holdings in Core Scientific were worth $83,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CORZ. HHM Wealth Advisors LLC grew its stake in shares of Core Scientific by 96.5% during the second quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock worth $33,000 after buying an additional 946 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after acquiring an additional 1,066 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Core Scientific by 68.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock valued at $46,000 after acquiring an additional 1,092 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Core Scientific by 396.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,731 shares of the company’s stock valued at $64,000 after acquiring an additional 2,980 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in 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 acquiring an additional 1,507 shares during the last quarter.

Core Scientific Stock Up 1.5%

NASDAQ CORZ opened at $16.49 on Friday. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 14.09 and a beta of 6.87. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $23.63. The stock has a fifty day simple moving average of $17.38 and a 200 day simple moving average of $17.02.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Monday, March 2nd. The company reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $79.76 million for the quarter, compared to analyst estimates of $118.45 million. During the same period in the previous year, the firm posted ($0.69) earnings per share. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. Research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CORZ. Citigroup raised Core Scientific from a “market perform” rating to an “outperform” rating in a report on Thursday, December 18th. BTIG Research raised Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, January 6th. LADENBURG THALM/SH SH reduced their price target on Core Scientific from $24.50 to $23.75 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Wall Street Zen raised Core Scientific to a “sell” rating in a research note on Saturday. Finally, Needham & Company LLC upgraded shares of Core Scientific from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.84.

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.