Comerica Bank Has $83.07 Million Stock Position in Core Scientific, Inc. $CORZ

Comerica Bank raised its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,630,416 shares of the company’s stock after acquiring an additional 52,650 shares during the quarter. Comerica Bank owned about 1.49% of Core Scientific worth $83,070,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CORZ. AQR Capital Management LLC grew its position in shares of Core Scientific by 106.1% in the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock valued at $2,052,000 after purchasing an additional 145,905 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Core Scientific by 180.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock worth $8,032,000 after purchasing an additional 714,388 shares during the last quarter. Savant Capital LLC bought a new stake in Core Scientific in the 2nd quarter valued at $238,000. Prospera Financial Services Inc acquired a new position in Core Scientific in the 2nd quarter valued at $252,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Core Scientific by 16.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,318 shares of the company’s stock valued at $347,000 after buying an additional 2,925 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CORZ shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Core Scientific to a “sell” rating in a research note on Saturday. BTIG Research raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Core Scientific from $19.00 to $25.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Finally, Canaccord Genuity Group boosted their price objective on shares of Core Scientific from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.84.

Core Scientific Stock Performance

Shares of CORZ stock opened at $16.49 on Friday. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $23.63. The stock’s fifty day moving average price is $17.38 and its two-hundred day moving average price is $17.02. The company has a market cap of $5.20 billion, a PE ratio of 14.09 and a beta of 6.87.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Monday, March 2nd. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The business had revenue of $79.76 million for the quarter, compared to the consensus estimate of $118.45 million. Core Scientific’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.69) earnings per share. On average, equities analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

About Core Scientific

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.