Core Scientific (NASDAQ:CORZ) Insider Sells $164,900.00 in Stock
by Tristan Rich · The Markets DailyCore Scientific, Inc. (NASDAQ:CORZ – Get Free Report) insider Todd Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $16.49, for a total transaction of $164,900.00. Following the sale, the insider directly owned 2,037,089 shares in the company, valued at $33,591,597.61. The trade was a 0.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Core Scientific Price Performance
NASDAQ:CORZ traded up $0.83 during mid-day trading on Wednesday, hitting $17.66. 14,654,860 shares of the company’s stock were exchanged, compared to its average volume of 11,519,475. Core Scientific, Inc. has a one year low of $6.20 and a one year high of $23.63. The business has a fifty day moving average price of $16.73 and a 200 day moving average price of $17.19. The company has a market cap of $5.57 billion, a PE ratio of 15.09 and a beta of 6.34.
Core Scientific (NASDAQ:CORZ – Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The business had revenue of $79.76 million for the quarter, compared to the consensus estimate of $118.45 million. During the same period in the previous year, the firm earned ($0.69) EPS. The company’s revenue was down 16.0% on a year-over-year basis. On average, equities analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms recently commented on CORZ. Keefe, Bruyette & Woods boosted their price objective on shares of Core Scientific from $19.00 to $25.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Needham & Company LLC raised shares of Core Scientific from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, March 3rd. BTIG Research upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, January 6th. Citizens Jmp upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Thursday, December 18th. Finally, LADENBURG THALM/SH SH dropped their target price on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.84.
Get Our Latest Research Report on CORZ
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in CORZ. Allworth Financial LP lifted its stake in shares of Core Scientific by 206.5% in the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after buying an additional 950 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Core Scientific by 936.7% in the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after buying an additional 1,686 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Core Scientific by 112.1% in the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after buying an additional 1,066 shares in the last quarter. Danske Bank A S bought a new position in shares of Core Scientific in the fourth quarter worth approximately $36,000. Finally, State of Wyoming bought a new position in shares of Core Scientific in the fourth quarter worth approximately $66,000.
About Core Scientific
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.