The Manufacturers Life Insurance Company Makes New Investment in Core Scientific, Inc. (NASDAQ:CORZ)

The Manufacturers Life Insurance Company acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 64,328 shares of the company’s stock, valued at approximately $598,000.

Several other large investors also recently modified their holdings of CORZ. Banque Cantonale Vaudoise bought a new position in Core Scientific during the second quarter worth $28,000. Rise Advisors LLC acquired a new position in shares of Core Scientific during the second quarter valued at about $65,000. Aspect Partners LLC bought a new position in shares of Core Scientific during the 1st quarter worth about $29,000. Hexagon Capital Partners LLC acquired a new stake in shares of Core Scientific in the 1st quarter valued at about $34,000. Finally, Divisadero Street Capital Management LP bought a new stake in Core Scientific in the 2nd quarter valued at about $93,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CORZ shares. Sanford C. Bernstein restated an “outperform” rating and set a $17.00 price objective on shares of Core Scientific in a report on Tuesday, September 10th. B. Riley boosted their price target on shares of Core Scientific from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Core Scientific in a research note on Thursday, October 3rd. Needham & Company LLC started coverage on shares of Core Scientific in a research report on Wednesday, September 4th. They set a “buy” rating and a $16.00 target price for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of Core Scientific in a research report on Friday, October 11th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $15.27.

Core Scientific Price Performance

Shares of CORZ opened at $12.97 on Wednesday. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $13.42. The stock has a 50 day moving average of $10.96 and a 200 day moving average of $8.13.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The company’s revenue was up 11.2% on a year-over-year basis. Research analysts predict that Core Scientific, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other Core Scientific news, Director Jarrod M. Patten bought 4,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were acquired at an average price of $9.70 per share, with a total value of $38,800.00. Following the acquisition, the director now directly owns 279,239 shares of the company’s stock, valued at $2,708,618.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $82,356.32. Following the completion of the transaction, the chief financial officer now owns 122,217 shares of the company’s stock, valued at approximately $1,150,061.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jarrod M. Patten bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average cost of $9.70 per share, for a total transaction of $38,800.00. Following the acquisition, the director now directly owns 279,239 shares in the company, valued at $2,708,618.30. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 12,761 shares of company stock valued at $127,080. 32.00% of the stock is owned by insiders.

Core Scientific 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.