Orion Portfolio Solutions LLC Buys Shares of 12,527 Core Scientific, Inc. (NASDAQ:CORZ)

Orion Portfolio Solutions LLC purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,527 shares of the company’s stock, valued at approximately $176,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Core Scientific by 54.3% in the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock valued at $272,270,000 after buying an additional 6,819,406 shares during the last quarter. Geode Capital Management LLC raised its holdings in Core Scientific by 26.7% during the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after acquiring an additional 1,113,285 shares in the last quarter. Heritage Oak Wealth Advisors LLC acquired a new position in Core Scientific during the fourth quarter valued at approximately $10,301,000. State Street Corp grew its stake in Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after purchasing an additional 583,493 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Core Scientific by 23.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,392,092 shares of the company’s stock worth $33,609,000 after purchasing an additional 459,630 shares during the last quarter.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 25,277 shares of Core Scientific stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the transaction, the insider now directly owns 2,023,423 shares of the company’s stock, valued at $32,860,389.52. The trade was a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jordan Levy bought 62,500 shares of Core Scientific stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the acquisition, the director now owns 306,887 shares in the company, valued at $2,458,164.87. This represents a 25.57 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 530,041 shares of company stock worth $7,870,352 in the last quarter. Corporate insiders own 32.00% of the company’s stock.

Core Scientific Price Performance

CORZ opened at $6.82 on Friday. The company has a market capitalization of $2.01 billion, a PE ratio of -1.26 and a beta of 6.80. The business has a fifty day simple moving average of $9.49 and a 200 day simple moving average of $12.76. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. Equities analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CORZ. BTIG Research increased their price objective on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 16th. Cantor Fitzgerald decreased their price objective on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Craig Hallum started coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $17.00 price target on shares of Core Scientific in a report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods started coverage on Core Scientific in a research note on Monday, January 27th. They issued an “outperform” rating and a $22.00 price objective on the stock. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $19.07.

Core Scientific Company 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.