Core Scientific, Inc. (NASDAQ:CORZ) Insider Sells $410,498.48 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 25,277 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now directly owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. The trade was a 1.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Core Scientific Stock Up 7.0 %

Shares of Core Scientific stock opened at $12.26 on Friday. The company’s fifty day simple moving average is $15.25 and its two-hundred day simple moving average is $13.02. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63. The firm has a market cap of $3.42 billion and a PE ratio of -2.27.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $95.35 million during the quarter, compared to the consensus estimate of $94.80 million. As a group, sell-side analysts expect that Core Scientific, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Core Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC increased its position in Core Scientific by 0.3% during the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock valued at $126,262,000 after purchasing an additional 26,649 shares during the period. Parsifal Capital Management LP increased its position in shares of Core Scientific by 3.9% during the third quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock valued at $64,196,000 after buying an additional 204,314 shares during the period. Geode Capital Management LLC raised its stake in Core Scientific by 26.7% in the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after buying an additional 1,113,285 shares in the last quarter. State Street Corp lifted its holdings in Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock worth $47,522,000 after buying an additional 583,493 shares during the period. Finally, Taconic Capital Advisors LP boosted its position in Core Scientific by 178.7% during the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after acquiring an additional 1,742,462 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CORZ. BTIG Research raised their target price on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Macquarie lifted their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. B. Riley upped their target price on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Capital upgraded Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Compass Point upped their price objective on Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Core Scientific presently has a consensus rating of “Buy” and a consensus price target of $19.07.

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.