Alpine Associates Management Inc. Invests $9.82 Million in Core Scientific, Inc. $CORZ

Alpine Associates Management Inc. acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 547,600 shares of the company’s stock, valued at approximately $9,824,000. Alpine Associates Management Inc. owned about 0.18% of Core Scientific as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Situational Awareness LP grew its stake in Core Scientific by 76.8% during the second quarter. Situational Awareness LP now owns 7,994,038 shares of the company’s stock worth $136,458,000 after buying an additional 3,472,460 shares during the last quarter. Marshall Wace LLP grew its holdings in Core Scientific by 416.0% during the second quarter. Marshall Wace LLP now owns 3,098,737 shares of the company’s stock valued at $52,895,000 after purchasing an additional 2,498,186 shares during the period. 59 North Capital Management LP bought a new stake in Core Scientific in the second quarter valued at approximately $35,990,000. Goodlander Investment Management LLC acquired a new stake in Core Scientific in the second quarter worth $34,994,000. Finally, Westfield Capital Management Co. LP bought a new position in shares of Core Scientific during the second quarter worth $33,844,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CORZ. Craig Hallum set a $27.00 price objective on shares of Core Scientific in a research note on Friday, October 31st. Zacks Research raised Core Scientific from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. HC Wainwright raised Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, October 28th. Macquarie Infrastructure upgraded shares of Core Scientific from a “hold” rating to an “outperform” rating and increased their target price for the stock from $18.00 to $34.00 in a research report on Friday, October 31st. Finally, Cantor Fitzgerald raised their price objective on Core Scientific from $18.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.69.

Core Scientific Stock Performance

Shares of CORZ opened at $18.09 on Thursday. Core Scientific, Inc. has a 52 week low of $6.20 and a 52 week high of $23.63. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 120.61 and a beta of 6.86. The stock has a fifty day moving average of $16.93 and a 200-day moving average of $16.61.

Core Scientific Company 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.