Trivest Advisors Ltd Makes New $6.56 Million Investment in Core Scientific, Inc. $CORZ

Trivest Advisors Ltd acquired a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 365,500 shares of the company’s stock, valued at approximately $6,557,000. Core Scientific accounts for about 0.2% of Trivest Advisors Ltd’s investment portfolio, making the stock its 29th biggest holding. Trivest Advisors Ltd owned 0.12% of Core Scientific at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Core Scientific by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 28,600,610 shares of the company’s stock worth $513,095,000 after buying an additional 1,351,395 shares during the period. Situational Awareness LP increased its position in shares of 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 acquiring an additional 3,472,460 shares during the period. Geode Capital Management LLC raised its stake in shares of Core Scientific by 26.2% in the second quarter. Geode Capital Management LLC now owns 7,371,211 shares of the company’s stock valued at $125,842,000 after acquiring an additional 1,530,466 shares in the last quarter. ORG Wealth Partners LLC boosted its holdings in Core Scientific by 1.8% in the third quarter. ORG Wealth Partners LLC now owns 7,290,481 shares of the company’s stock valued at $130,791,000 after purchasing an additional 128,284 shares during the period. Finally, State Street Corp grew its stake in Core Scientific by 23.2% during the 2nd quarter. State Street Corp now owns 6,517,898 shares of the company’s stock worth $111,261,000 after purchasing an additional 1,225,351 shares in the last quarter.

Core Scientific Stock Down 3.8%

Shares of CORZ opened at $17.30 on Friday. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 115.34 and a beta of 6.86. Core Scientific, Inc. has a 52-week low of $6.20 and a 52-week high of $23.63. The stock has a 50 day moving average price of $16.98 and a 200 day moving average price of $16.81.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CORZ shares. Roth Mkm reaffirmed a “buy” rating on shares of Core Scientific in a research report on Friday, October 31st. Keefe, Bruyette & Woods raised their target price on shares of Core Scientific from $19.00 to $25.00 and gave the company a “moderate buy” rating in a report on Tuesday, January 27th. Citigroup upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Jefferies Financial Group set a $24.00 price objective on shares of Core Scientific and gave the company a “buy” rating in a research report on Tuesday, October 28th. Finally, Macquarie Infrastructure upgraded shares of Core Scientific from a “hold” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $34.00 in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.21.

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.