Core Scientific, Inc. (NASDAQ:CORZ) Short Interest Update

Core Scientific, Inc. (NASDAQ:CORZ) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 44,670,000 shares, an increase of 13.2% from the December 31st total of 39,460,000 shares. Based on an average daily volume of 10,740,000 shares, the days-to-cover ratio is currently 4.2 days. Currently, 18.5% of the company’s stock are short sold.

Analyst Ratings Changes

Several brokerages have recently issued reports on CORZ. HC Wainwright raised their price target on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 target price on the stock. Roth Capital raised Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Roth Mkm assumed coverage on Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price objective on the stock. Finally, Compass Point lifted their price objective on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Core Scientific has a consensus rating of “Buy” and an average price target of $19.07.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the transaction, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the transaction, the insider now directly owns 1,661,474 shares in the company, valued at $28,411,205.40. The trade was a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 744,032 shares of company stock valued at $11,863,966 in the last three months. 32.00% of the stock is currently owned by company insiders.

Institutional Trading of Core Scientific

A number of institutional investors have recently bought and sold shares of CORZ. Sunbelt Securities Inc. acquired a new stake in Core Scientific during the 2nd quarter worth $33,000. Newbridge Financial Services Group Inc. acquired a new stake in Core Scientific during the 4th quarter worth $42,000. Rise Advisors LLC grew its holdings in Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after acquiring an additional 1,000 shares during the period. KBC Group NV acquired a new stake in Core Scientific during the 4th quarter worth $114,000. Finally, Arkadios Wealth Advisors acquired a new stake in Core Scientific during the 3rd quarter worth $119,000.

Core Scientific Stock Down 3.0 %

CORZ stock traded down $0.36 during trading on Monday, hitting $11.91. The company had a trading volume of 5,390,002 shares, compared to its average volume of 12,620,471. The firm has a 50-day moving average price of $15.03 and a 200-day moving average price of $13.04. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63. The stock has a market cap of $3.33 billion and a price-to-earnings ratio of -2.20.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $94.80 million. Equities analysts expect that Core Scientific will post 0.5 EPS for the current year.

Core Scientific Company Profile

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.