Core Scientific, Inc. $CORZ Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 45.0% during the second quarter, HoldingsChannel.com reports. The firm owned 1,123,721 shares of the company’s stock after buying an additional 348,645 shares during the period. Wellington Management Group LLP’s holdings in Core Scientific were worth $28,756,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Core Scientific in the second quarter worth $719,649,000. Situational Awareness LP boosted its stake in Core Scientific by 42.5% during the 4th quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after acquiring an additional 8,575,944 shares during the last quarter. Value Aligned Research Advisors LLC acquired a new position in Core Scientific during the 4th quarter worth $117,786,000. Fifth Third Bancorp bought a new stake in shares of Core Scientific in the 1st quarter worth about $59,802,000. Finally, Avala Global LP bought a new stake in shares of Core Scientific in the 2nd quarter worth about $101,729,000.

Core Scientific Stock Down 0.1%

Shares of CORZ stock opened at $17.89 on Friday. The stock has a 50-day simple moving average of $20.74 and a 200 day simple moving average of $20.98. Core Scientific, Inc. has a fifty-two week low of $13.14 and a fifty-two week high of $30.46. The stock has a market capitalization of $5.75 billion, a P/E ratio of -4.05 and a beta of 5.48.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $144.83 million. On average, sell-side analysts anticipate that Core Scientific, Inc. will post -1.36 earnings per share for the current year.

Insider Activity at Core Scientific

In related news, insider Todd DuChene sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $17.45, for a total transaction of $174,500.00. Following the completion of the sale, the insider directly owned 1,937,896 shares in the company, valued at approximately $33,816,285.20. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric Weiss purchased 7,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $19.19 per share, for a total transaction of $134,330.00. Following the transaction, the director owned 259,262 shares of the company’s stock, valued at $4,975,237.78. The trade was a 2.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 100,000 shares of company stock valued at $2,360,300 over the last ninety days. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

CORZ has been the topic of several research analyst reports. Jefferies Financial Group increased their price target on shares of Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Loop Capital set a $40.00 target price on Core Scientific in a research report on Friday, June 12th. Wolfe Research reaffirmed a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. Capital One Financial set a $33.00 price objective on shares of Core Scientific in a research report on Thursday, July 30th. Finally, B. Riley Financial increased their price target on Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.18.

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.