21,455 Shares in Core Scientific, Inc. $CORZ Purchased by Purpose Unlimited Inc.

Purpose Unlimited Inc. bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,455 shares of the company’s stock, valued at approximately $312,000.

Several other large investors have also recently bought and sold shares of CORZ. AQR Capital Management LLC lifted its stake in shares of Core Scientific by 106.1% in the 1st 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 increased its stake in shares of Core Scientific by 180.9% during 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 acquiring an additional 714,388 shares during the period. Cetera Investment Advisers raised its holdings in Core Scientific by 200.0% during 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 in the last quarter. Franklin Resources Inc. bought a new stake in Core Scientific during the second quarter worth approximately $181,000. Finally, Russell Investments Group Ltd. lifted 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 purchasing an additional 1,507 shares during the period.

Core Scientific Stock Performance

Core Scientific stock opened at $29.16 on Monday. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of -25.58 and a beta of 5.49. Core Scientific, Inc. has a 1 year low of $10.93 and a 1 year high of $30.46. The firm’s 50 day moving average price is $23.97 and its two-hundred day moving average price is $19.28.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The firm had revenue of $115.24 million during the quarter, compared to the consensus estimate of $117.04 million. The business’s revenue was up 44.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 EPS. As a group, equities analysts predict that Core Scientific, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $28.19, for a total transaction of $281,900.00. Following the completion of the sale, the insider directly owned 2,058,895 shares of the company’s stock, valued at $58,040,250.05. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 80,000 shares of company stock worth $1,746,300 over the last quarter. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating and set a $32.00 price target on shares of Core Scientific in a research report on Wednesday, June 3rd. BTIG Research upped their price objective on Core Scientific from $23.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Loop Capital set a $40.00 target price on Core Scientific in a research note on Friday, June 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a report on Monday, April 20th. Finally, Canaccord Genuity Group set a $30.00 price target on shares of Core Scientific in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.49.

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.