Core Scientific (NASDAQ:CORZ) Insider Sells 10,000 Shares of Company Stock

by · The Markets Daily

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, October 19th. The shares were sold at an average price of $13.87, for a total value of $138,700.00. Following the sale, the insider owned 1,143,286 shares of the company’s stock, valued at approximately $15,857,376.82. This trade represents a 0.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Core Scientific Trading Up 0.4%

CORZ stock traded up $0.06 during midday trading on Tuesday, hitting $13.79. 16,715,102 shares of the company’s stock were exchanged, compared to its average volume of 12,783,755. The firm has a 50 day moving average price of $17.19 and a 200-day moving average price of $21.04. Core Scientific, Inc. has a 12-month low of $12.31 and a 12-month high of $30.46. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -3.12 and a beta of 5.49.

Core Scientific (NASDAQ:CORZ – Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The firm had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. On average, sell-side analysts forecast that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on CORZ shares. B. Riley Financial raised their target price on shares of Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. BTIG Research reaffirmed a “buy” rating and set a $38.00 target price on shares of Core Scientific in a report on Thursday, October 15th. Needham & Company LLC increased their price target on Core Scientific from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wolfe Research reissued a “buy” rating on shares of Core Scientific in a report on Wednesday, July 29th. Finally, Citigroup reissued a “market outperform” rating on shares of Core Scientific in a report on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Core Scientific has an average rating of “Moderate Buy” and an average target price of $31.36.

View Our Latest Stock Report on Core Scientific

Institutional Investors Weigh In On Core Scientific

Institutional investors have recently added to or reduced their stakes in the company. Genesee Capital Advisors LLC acquired a new stake in Core Scientific during the 3rd quarter worth about $165,000. Counterpoint Mutual Funds LLC boosted its holdings in shares of Core Scientific by 9.3% in the third quarter. Counterpoint Mutual Funds LLC now owns 14,425 shares of the company’s stock worth $231,000 after buying an additional 1,224 shares during the period. Vontobel Holding Ltd. acquired a new position in shares of Core Scientific in the third quarter worth about $566,000. State of Alaska Department of Revenue boosted its holdings in shares of Core Scientific by 36.7% in the third quarter. State of Alaska Department of Revenue now owns 17,493 shares of the company’s stock worth $279,000 after buying an additional 4,701 shares during the period. Finally, Reliant Investment Management LLC purchased a new position in shares of Core Scientific in the third quarter worth approximately $336,000.

About Core Scientific

(Get Free Report)

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.

Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.

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