Westfield Capital Management Co. LP Cuts Stock Position in Core Scientific, Inc. $CORZ

Westfield Capital Management Co. LP lowered its stake in Core Scientific, Inc. (NASDAQ:CORZ) by 30.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,392,132 shares of the company’s stock after selling 600,603 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Core Scientific were worth $20,269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its position in Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after acquiring an additional 950 shares in the last quarter. Larson Financial Group LLC lifted its position in Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after acquiring an additional 1,686 shares in the last quarter. Osaic Holdings Inc. lifted its position in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after acquiring an additional 1,066 shares in the last quarter. Danske Bank A S bought a new position in Core Scientific in the 4th quarter valued at approximately $36,000. Finally, Russell Investments Group Ltd. lifted its position in Core Scientific by 61.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after acquiring an additional 1,507 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently issued reports on CORZ shares. Wall Street Zen raised Core Scientific to a “sell” rating in a research report on Saturday, March 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Core Scientific in a research report on Wednesday. B. Riley Financial upped their price objective on Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Needham & Company LLC upped their price objective on Core Scientific from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.83.

Core Scientific Price Performance

NASDAQ CORZ opened at $25.85 on Friday. The business’s fifty day moving average price is $21.58 and its 200-day moving average price is $18.41. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of -22.68 and a beta of 5.49. Core Scientific, Inc. has a 1-year low of $10.93 and a 1-year high of $30.46.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The firm had revenue of $115.24 million during the quarter, compared to analysts’ expectations of $117.04 million. Core Scientific’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. Equities research analysts anticipate that Core Scientific, Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $26.25, for a total transaction of $262,500.00. Following the transaction, the insider directly owned 2,088,895 shares of the company’s stock, valued at $54,833,493.75. This represents a 0.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 60,000 shares of company stock worth $1,195,900. 1.70% of the stock is owned by corporate insiders.

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.