Westbourne Investments Inc. Invests $885,000 in Core Scientific, Inc. $CORZ

Westbourne Investments Inc. purchased a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 49,354 shares of the company’s stock, valued at approximately $885,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HHM Wealth Advisors LLC grew its stake in shares of Core Scientific by 96.5% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock valued at $33,000 after acquiring an additional 946 shares during the period. Osaic Holdings Inc. lifted its holdings in Core Scientific by 112.1% during the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after purchasing an additional 1,066 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Core Scientific by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock worth $46,000 after purchasing an additional 1,092 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Core Scientific by 396.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,731 shares of the company’s stock worth $64,000 after purchasing an additional 2,980 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Core Scientific by 61.9% in the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock worth $67,000 after purchasing an additional 1,507 shares in the last quarter.

Wall Street Analyst Weigh In

CORZ has been the subject of a number of analyst reports. UBS Group set a $30.00 price target on Core Scientific in a research note on Wednesday, October 22nd. Roth Mkm reaffirmed a “buy” rating on shares of Core Scientific in a research note on Friday, October 31st. Keefe, Bruyette & Woods increased their target price on Core Scientific from $19.00 to $25.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th. Jefferies Financial Group set a $24.00 target price on Core Scientific and gave the company a “buy” rating in a research note on Tuesday, October 28th. Finally, Sanford C. Bernstein upped their price target on Core Scientific from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $23.69.

Core Scientific Price Performance

Shares of CORZ opened at $18.13 on Wednesday. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 120.87 and a beta of 6.86. Core Scientific, Inc. has a 1 year low of $6.20 and a 1 year high of $23.63. The business’s 50 day simple moving average is $16.90 and its 200-day simple moving average is $16.60.

Core Scientific Profile

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.