Royal Bank of Canada Has $1.42 Million Stake in Core Scientific, Inc. $CORZ

Royal Bank of Canada grew its holdings in Core Scientific, Inc. (NASDAQ:CORZ) by 62.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,838 shares of the company’s stock after acquiring an additional 36,517 shares during the quarter. Royal Bank of Canada’s holdings in Core Scientific were worth $1,419,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP grew its position in shares of Core Scientific by 206.5% in 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 raised its holdings in Core Scientific by 936.7% during 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. raised its holdings in Core Scientific by 112.1% during 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 position in Core Scientific in the fourth quarter valued at approximately $36,000. Finally, PNC Financial Services Group Inc. lifted its stake in Core Scientific by 41.3% in the first quarter. PNC Financial Services Group Inc. now owns 4,396 shares of the company’s stock valued at $66,000 after buying an additional 1,285 shares in the last quarter.

Core Scientific Stock Down 0.7%

NASDAQ:CORZ opened at $18.72 on Thursday. The company has a market cap of $6.02 billion, a P/E ratio of -4.24 and a beta of 5.59. Core Scientific, Inc. has a twelve month low of $13.14 and a twelve month high of $30.46. The business has a 50 day moving average price of $23.34 and a two-hundred day moving average price of $21.01.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The firm had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. As a group, analysts anticipate that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CORZ. Keefe, Bruyette & Woods raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $25.00 to $28.00 in a research report on Thursday, July 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Core Scientific in a research report on Wednesday, June 3rd. Capital One Financial set a $33.00 target price on shares of Core Scientific in a research note on Thursday, July 30th. Wolfe Research reiterated a “buy” rating on shares of Core Scientific in a report on Wednesday, July 29th. Finally, B. Riley Financial lifted their price target on Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.18.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $19.97, for a total transaction of $199,700.00. Following the sale, the insider directly owned 1,969,101 shares of the company’s stock, valued at $39,322,946.97. The trade was a 0.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 100,000 shares of company stock valued at $2,448,300. 1.70% of the stock is currently owned by insiders.

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.