Jarrod M. Patten Acquires 2,240 Shares of Core Scientific, Inc. (NASDAQ:CORZ) Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Jarrod M. Patten bought 2,240 shares of the company’s stock in a transaction on Friday, September 13th. The stock was bought at an average cost of $11.05 per share, for a total transaction of $24,752.00. Following the completion of the transaction, the director now directly owns 300,000 shares of the company’s stock, valued at $3,315,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Core Scientific Stock Performance

Shares of Core Scientific stock remained flat at $11.18 on Monday. 10,392,163 shares of the stock were exchanged, compared to its average volume of 8,375,595. The business has a fifty day moving average price of $10.01 and a 200-day moving average price of $6.79. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $12.25.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The firm had revenue of $141.10 million for the quarter, compared to analyst estimates of $128.58 million. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, research analysts predict that Core Scientific, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CORZ shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 target price on shares of Core Scientific in a research note on Tuesday, September 3rd. BTIG Research raised their target price on Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. HC Wainwright raised their target price on Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $14.50 target price on shares of Core Scientific in a research note on Tuesday, July 2nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $17.00 target price on shares of Core Scientific in a research note on Tuesday, September 10th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.88.

Hedge Funds Weigh In On Core Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of CORZ. Banque Cantonale Vaudoise bought a new stake in Core Scientific in the 2nd quarter valued at $28,000. Sunbelt Securities Inc. bought a new stake in Core Scientific in the 2nd quarter valued at $33,000. Rise Advisors LLC bought a new stake in Core Scientific in the 2nd quarter valued at $65,000. Aspect Partners LLC bought a new stake in Core Scientific in the 1st quarter valued at $29,000. Finally, Hexagon Capital Partners LLC bought a new stake in Core Scientific in the 1st quarter valued at $34,000.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.