Police & Firemen s Retirement System of New Jersey Buys 24,569 Shares of Core Scientific, Inc. $CORZ

Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 64.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,537 shares of the company’s stock after purchasing an additional 24,569 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Core Scientific were worth $1,068,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. State of Wyoming bought a new position in Core Scientific in the 1st quarter worth about $34,000. Bernard Wealth Management Corp. purchased a new stake in shares of Core Scientific in the second quarter worth about $51,000. CWM LLC boosted its position in shares of Core Scientific by 403.9% in the first quarter. CWM LLC now owns 8,092 shares of the company’s stock valued at $59,000 after acquiring an additional 6,486 shares during the period. US Bancorp DE boosted its position in shares of Core Scientific by 23.7% in the first quarter. US Bancorp DE now owns 8,682 shares of the company’s stock valued at $63,000 after acquiring an additional 1,663 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Core Scientific by 396.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,731 shares of the company’s stock valued at $64,000 after acquiring an additional 2,980 shares in the last quarter.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $14.73 on Friday. The firm has a market capitalization of $4.57 billion, a PE ratio of 98.21 and a beta of 6.59. Core Scientific, Inc. has a 52-week low of $6.20 and a 52-week high of $23.63. The firm has a fifty day moving average of $18.08 and a 200 day moving average of $14.84.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.39. The firm had revenue of $81.10 million for the quarter, compared to the consensus estimate of $107.18 million. On average, sell-side analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Core Scientific news, Director Eric Stanton Weiss purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were purchased at an average cost of $21.50 per share, with a total value of $107,500.00. Following the completion of the purchase, the director owned 226,687 shares of the company’s stock, valued at $4,873,770.50. The trade was a 2.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CORZ shares. Roth Capital reiterated a “buy” rating on shares of Core Scientific in a research note on Friday, October 31st. UBS Group set a $30.00 price objective on Core Scientific in a research report on Wednesday, October 22nd. B. Riley raised Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, October 22nd. Compass Point began coverage on Core Scientific in a research note on Monday, September 15th. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald raised their price target on Core Scientific from $18.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific presently has an average rating of “Hold” and an average target price of $22.39.

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.