Insider Selling: Core Scientific (NASDAQ:CORZ) Insider Sells $261,700.00 in Stock

by · The Cerbat Gem

Core Scientific, Inc. (NASDAQ:CORZ – Get Free Report) insider Todd Duchene sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $26.17, for a total transaction of $261,700.00. Following the transaction, the insider owned 2,038,895 shares in the company, valued at approximately $53,357,882.15. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Core Scientific Price Performance

Core Scientific stock traded down $1.88 during midday trading on Wednesday, reaching $23.71. The company’s stock had a trading volume of 17,964,302 shares, compared to its average volume of 11,138,318. Core Scientific, Inc. has a fifty-two week low of $12.42 and a fifty-two week high of $30.46. The stock’s 50 day simple moving average is $25.24 and its 200 day simple moving average is $19.84.

Core Scientific (NASDAQ:CORZ – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The company had revenue of $115.24 million for the quarter, compared to analyst estimates of $117.04 million. The firm’s quarterly revenue was up 44.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 EPS. As a group, analysts predict that Core Scientific, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Cantor Fitzgerald raised their price target on shares of Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Wall Street Zen raised Core Scientific to a “sell” rating in a research report on Saturday, March 14th. Lucid Cap Mkts raised Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Core Scientific in a research note on Tuesday, March 3rd. Finally, Canaccord Genuity Group set a $30.00 target price on Core Scientific in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.78.

View Our Latest Research Report on Core Scientific

Hedge Funds Weigh In On Core Scientific

A number of institutional investors have recently made changes to their positions in CORZ. Jericho Capital Asset Management L.P. acquired a new stake in shares of Core Scientific during the third quarter worth approximately $209,895,000. Situational Awareness LP raised its stake in shares of Core Scientific by 42.5% in the 4th quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after purchasing an additional 8,575,944 shares in the last quarter. Value Aligned Research Advisors LLC acquired a new stake in shares of Core Scientific in the 4th quarter valued at about $117,786,000. Oaktree Capital Management LP bought a new position in shares of Core Scientific during the third quarter worth about $114,829,000. Finally, Vanguard Group Inc. lifted its position in shares of Core Scientific by 18.7% during the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock worth $494,462,000 after purchasing an additional 5,359,710 shares during the last quarter.

Core Scientific Company Profile

(Get Free Report)

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.

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