Heritage Oak Wealth Advisors LLC Has $12.87 Million Stock Position in Core Scientific, Inc. $CORZ

Key Points

• Heritage Oak Wealth Advisors LLC increased its stake in Core Scientific, owning approximately 753,846 shares valued at $12.87 million, representing 5.1% of its portfolio.
• Core Scientific reported a quarterly EPS of ($0.04), beating estimates, but experienced a 44.3% year-over-year decline in revenue.
• Market analysts have downgraded Core Scientific's stock rating to "hold" with varying price targets ranging from $15.00 to $20.00.

Heritage Oak Wealth Advisors LLC raised its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 2.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 753,846 shares of the company's stock after purchasing an additional 17,709 shares during the period. Core Scientific accounts for 5.1% of Heritage Oak Wealth Advisors LLC's portfolio, making the stock its 4th largest position. Heritage Oak Wealth Advisors LLC owned approximately 0.25% of Core Scientific worth $12,868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CORZ. Ameriprise Financial Inc. bought a new position in shares of Core Scientific during the fourth quarter valued at approximately $2,950,000. Millennium Management LLC purchased a new stake in shares of Core Scientific during the fourth quarter valued at approximately $1,335,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Core Scientific by 76.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 394,999 shares of the company's stock valued at $5,550,000 after buying an additional 171,461 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Core Scientific during the fourth quarter valued at approximately $8,827,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Core Scientific by 43.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 111,969 shares of the company's stock valued at $1,573,000 after buying an additional 33,892 shares during the last quarter.

Core Scientific Price Performance

Shares of CORZ stock opened at $17.00 on Wednesday. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of -30.36 and a beta of 6.59. Core Scientific, Inc. has a one year low of $6.20 and a one year high of $18.63. The company's fifty day moving average price is $14.38 and its 200-day moving average price is $11.69.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $78.63 million for the quarter, compared to the consensus estimate of $82.09 million. The business's revenue for the quarter was down 44.3% on a year-over-year basis. Equities research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CORZ has been the topic of a number of recent analyst reports. Citizens Jmp cut shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Monday, July 14th. BTIG Research cut shares of Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 price target on the stock. in a report on Monday, July 7th. Needham & Company LLC cut shares of Core Scientific from a "moderate buy" rating to a "hold" rating and set a $18.00 price target on the stock. in a report on Thursday, July 10th. Craig Hallum cut shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Monday, July 7th. Finally, Macquarie restated a "neutral" rating and issued a $15.00 target price on shares of Core Scientific in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $18.53.

About Core Scientific

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.

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