44,501 Shares in Core Scientific, Inc. $CORZ Purchased by Reliant Investment Management LLC

Reliant Investment Management LLC acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,501 shares of the company’s stock, valued at approximately $648,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CORZ. Allworth Financial LP lifted its position in shares of Core Scientific by 206.5% during the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after buying an additional 950 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Core Scientific by 112.1% in the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after acquiring an additional 1,066 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Core Scientific by 61.9% during the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after acquiring an additional 1,507 shares during the last quarter. Athos Capital Ltd purchased a new stake in shares of Core Scientific during the third quarter valued at approximately $76,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Core Scientific during the third quarter worth $90,000.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $15.25, for a total value of $152,500.00. Following the sale, the insider directly owned 2,047,089 shares in the company, valued at approximately $31,218,107.25. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.40% of the company’s stock.

Core Scientific Stock Performance

Shares of NASDAQ CORZ opened at $16.23 on Friday. The stock has a fifty day simple moving average of $16.85 and a two-hundred day simple moving average of $17.18. Core Scientific, Inc. has a 1-year low of $6.20 and a 1-year high of $23.63. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 13.87 and a beta of 6.34.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Monday, March 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The firm had revenue of $79.76 million during the quarter, compared to the consensus estimate of $118.45 million. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.69) earnings per share. Analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CORZ shares. BTIG Research raised Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, January 6th. Needham & Company LLC upgraded Core Scientific from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, March 3rd. LADENBURG THALM/SH SH cut their price target on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods increased their price target on shares of Core Scientific from $19.00 to $25.00 and gave the company a “moderate buy” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.84.

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.