Investors Buy Large Volume of Call Options on Core Scientific (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) saw unusually large options trading activity on Friday. Stock traders purchased 239,017 call options on the company. This represents an increase of approximately 87% compared to the typical volume of 127,636 call options.

Core Scientific Stock Up 13.4%

Shares of NASDAQ:CORZ traded up $1.99 during trading on Friday, reaching $16.80. The stock had a trading volume of 16,195,779 shares, compared to its average volume of 11,394,479. The stock has a fifty day simple moving average of $16.82 and a two-hundred day simple moving average of $16.46. Core Scientific has a 52 week low of $6.20 and a 52 week high of $23.63. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 111.99 and a beta of 6.86.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. HC Wainwright upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Tuesday, October 28th. Citizens Jmp raised Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Thursday, December 18th. Roth Mkm restated a “buy” rating on shares of Core Scientific in a report on Friday, October 31st. Craig Hallum set a $27.00 price objective on shares of Core Scientific in a research report on Friday, October 31st. Finally, Sanford C. Bernstein lifted their target price on shares of Core Scientific from $17.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.69.

Hedge Funds Weigh In On Core Scientific

Several large investors have recently made changes to their positions in CORZ. Global Retirement Partners LLC grew its holdings in Core Scientific by 1,794.7% in the 4th quarter. Global Retirement Partners LLC now owns 8,564 shares of the company’s stock valued at $125,000 after buying an additional 8,112 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Core Scientific in the fourth quarter worth $155,000. Larson Financial Group LLC increased its position in Core Scientific by 936.7% during the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after acquiring an additional 1,686 shares during the period. Handelsbanken Fonder AB increased its position in Core Scientific by 42.1% during the fourth quarter. Handelsbanken Fonder AB now owns 93,800 shares of the company’s stock worth $1,366,000 after acquiring an additional 27,800 shares during the period. Finally, Sandro Wealth Management LLC acquired a new position in Core Scientific during the 4th quarter valued at $4,493,000.

Core Scientific Company Profile

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.