OLD National Bancorp IN Makes New Investment in Core Scientific, Inc. (NASDAQ:CORZ)

OLD National Bancorp IN bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,857 shares of the company’s stock, valued at approximately $164,000.

Other hedge funds have also made changes to their positions in the company. Barings LLC acquired a new stake in Core Scientific during the 1st quarter worth approximately $36,515,000. ORG Wealth Partners LLC purchased a new position in Core Scientific in the 3rd quarter valued at $106,266,000. Vanguard Group Inc. acquired a new position in Core Scientific in the 1st quarter valued at $21,973,000. Kensico Capital Management Corp purchased a new position in Core Scientific during the 1st quarter worth $18,513,000. Finally, Van ECK Associates Corp purchased a new stake in shares of Core Scientific in the second quarter valued at about $12,239,000.

Insider Activity at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 11,582 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the sale, the insider now directly owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $82,356.32. Following the completion of the transaction, the chief financial officer now owns 122,217 shares in the company, valued at $1,150,061.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Todd M. Duchene sold 11,582 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the transaction, the insider now owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 12,761 shares of company stock valued at $127,080 over the last ninety days. Corporate insiders own 32.00% of the company’s stock.

Core Scientific Trading Down 1.5 %

CORZ opened at $13.52 on Thursday. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $14.01. The company has a 50 day moving average of $11.42 and a two-hundred day moving average of $8.51.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The firm had revenue of $141.10 million for the quarter, compared to analyst estimates of $128.58 million. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts expect that Core Scientific, Inc. will post 0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CORZ has been the subject of a number of recent analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, September 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd. HC Wainwright increased their price objective on Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Canaccord Genuity Group upped their target price on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC lifted their price target on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $16.50.

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.