Patten Group Inc. Takes $396,000 Position in Core Scientific, Inc. $CORZ

Patten Group Inc. bought a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the first quarter, HoldingsChannel reports. The firm bought 26,487 shares of the company’s stock, valued at approximately $396,000.

Several other large investors also recently modified their holdings of the business. Allworth Financial LP increased its holdings in Core Scientific by 206.5% during the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after purchasing an additional 950 shares during the period. Larson Financial Group LLC lifted its holdings in Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after buying an additional 1,686 shares during the period. Osaic Holdings Inc. lifted its holdings in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after buying an additional 1,066 shares during the period. Danske Bank A S bought a new stake in shares of Core Scientific in the 4th quarter worth approximately $36,000. Finally, Russell Investments Group Ltd. grew its position in shares of Core Scientific by 61.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock worth $67,000 after buying an additional 1,507 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently commented on CORZ shares. Canaccord Genuity Group set a $30.00 target price on Core Scientific in a report on Friday, May 8th. Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a report on Friday, June 12th. Jefferies Financial Group boosted their price objective on shares of Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Needham & Company LLC upped their price objective on shares of Core Scientific from $23.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Core Scientific to a “sell” rating in a research report on Saturday, March 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Core Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $29.78.

Core Scientific Price Performance

NASDAQ CORZ opened at $21.43 on Friday. The firm has a market capitalization of $6.81 billion, a PE ratio of -18.80 and a beta of 5.50. The stock’s 50 day moving average is $25.26 and its 200 day moving average is $19.88. Core Scientific, Inc. has a twelve month low of $12.42 and a twelve month high of $30.46.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The business had revenue of $115.24 million during the quarter, compared to analyst estimates of $117.04 million. The company’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same period last year, the business posted $1.25 EPS. On average, research analysts anticipate that Core Scientific, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $26.17, for a total value of $261,700.00. Following the completion of the transaction, the insider directly owned 2,038,895 shares in the company, valued at $53,357,882.15. This trade represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 90,000 shares of company stock valued at $2,148,400. 1.70% of the stock is owned by corporate insiders.

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.