Heritage Oak Wealth Advisors LLC Buys Shares of 250,916 Core Scientific, Inc. (NASDAQ:CORZ)

Heritage Oak Wealth Advisors LLC bought a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 250,916 shares of the company’s stock, valued at approximately $2,334,000. Core Scientific comprises about 1.2% of Heritage Oak Wealth Advisors LLC’s portfolio, making the stock its 13th biggest holding. Heritage Oak Wealth Advisors LLC owned approximately 0.14% of Core Scientific as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in shares of Core Scientific during the second quarter worth $4,222,000. Sunbelt Securities Inc. acquired a new stake in shares of Core Scientific during the second quarter worth about $33,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Core Scientific during the second quarter worth about $369,000. The Manufacturers Life Insurance Company purchased a new position in shares of Core Scientific during the second quarter worth about $598,000. Finally, DeepCurrents Investment Group LLC boosted its holdings in Core Scientific by 157.7% in the 2nd quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock valued at $2,373,000 after purchasing an additional 156,162 shares in the last quarter.

Insider Activity

In related news, Director Jarrod M. Patten purchased 5,021 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $9.68 per share, with a total value of $48,603.28. Following the purchase, the director now directly owns 285,760 shares in the company, valued at approximately $2,766,156.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Core Scientific news, insider Todd M. Duchene sold 11,582 shares of the stock in a transaction dated Friday, August 16th. The stock was 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 in the company, valued at approximately $15,869,720.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $9.68 per share, with a total value of $48,603.28. Following the acquisition, the director now owns 285,760 shares in the company, valued at approximately $2,766,156.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,761 shares of company stock valued at $127,080 in the last 90 days. 32.00% of the stock is owned by company insiders.

Core Scientific Price Performance

Shares of CORZ opened at $11.86 on Tuesday. The business’s 50 day simple moving average is $10.34 and its 200-day simple moving average is $7.38. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $12.95.

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

Analysts Set New Price Targets

CORZ has been the subject of a number of research reports. Needham & Company LLC initiated coverage on shares of Core Scientific in a research report on Wednesday, September 4th. They set a “buy” rating and a $16.00 price target for the company. BTIG Research boosted their price objective on shares of Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. LADENBURG THALM/SH SH reissued a “buy” rating and set a $14.50 price objective on shares of Core Scientific in a research note on Tuesday, July 2nd. Canaccord Genuity Group initiated coverage on shares of Core Scientific in a research report on Monday, September 23rd. They set a “buy” rating and a $16.00 price target for the company. Finally, Macquarie assumed coverage on shares of Core Scientific in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 price objective for the company. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.18.

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.