Ensign Peak Advisors Inc Acquires New Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Ensign Peak Advisors Inc bought a new position in Core Scientific, Inc. (NASDAQ:CORZ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 62,450 shares of the company’s stock, valued at approximately $877,000.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Core Scientific by 48.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company’s stock valued at $5,192,000 after buying an additional 142,068 shares during the period. Shikiar Asset Management Inc. grew its holdings in shares of Core Scientific by 27.0% in the fourth quarter. Shikiar Asset Management Inc. now owns 95,250 shares of the company’s stock worth $1,338,000 after acquiring an additional 20,250 shares during the period. Red Door Wealth Management LLC increased its position in Core Scientific by 124.3% during the fourth quarter. Red Door Wealth Management LLC now owns 95,378 shares of the company’s stock valued at $1,340,000 after acquiring an additional 52,851 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Core Scientific by 27.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 629,329 shares of the company’s stock worth $8,842,000 after purchasing an additional 136,212 shares during the last quarter. Finally, Duncan Williams Asset Management LLC purchased a new position in Core Scientific in the fourth quarter worth about $141,000.

Core Scientific Price Performance

Shares of CORZ opened at $10.78 on Friday. The firm has a market cap of $3.21 billion, a P/E ratio of -1.99 and a beta of 6.66. Core Scientific, Inc. has a 1 year low of $3.67 and a 1 year high of $18.63. The company has a 50 day simple moving average of $8.08 and a two-hundred day simple moving average of $11.99.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $79.53 million for the quarter, compared to analysts’ expectations of $92.04 million. The business’s revenue was down 55.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. On average, sell-side analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Analyst Ratings Changes

CORZ has been the topic of a number of research reports. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a report on Monday, January 27th. They issued an “outperform” rating and a $22.00 price objective on the stock. Compass Point cut their price objective on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Oppenheimer initiated coverage on Core Scientific in a research note on Wednesday. They issued an “outperform” rating and a $15.00 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Friday, May 9th. Finally, Cantor Fitzgerald cut their price target on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Sixteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Core Scientific presently has a consensus rating of “Buy” and an average price target of $18.75.

Insider Buying and Selling at Core Scientific

In related 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 transaction of $1,443,187.50. Following the sale, the director now owns 195,687 shares of the company’s stock, valued at $2,103,635.25. This represents 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 through this link. Also, Director Jordan Levy acquired 62,500 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $8.01 per share, with a total value of $500,625.00. Following the completion of the purchase, the director now directly owns 306,887 shares in the company, valued at approximately $2,458,164.87. This represents a 25.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Core Scientific Profile

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.