Core Scientific (NASDAQ:CORZ) Insider Sells $281,900.00 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $28.19, for a total value of $281,900.00. Following the completion of the transaction, the insider directly owned 2,058,895 shares in the company, valued at approximately $58,040,250.05. This represents a 0.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Core Scientific Price Performance

Shares of NASDAQ:CORZ traded up $0.30 during midday trading on Wednesday, reaching $28.38. The company’s stock had a trading volume of 13,175,083 shares, compared to its average volume of 12,803,194. Core Scientific, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $30.46. The company has a market capitalization of $9.02 billion, a P/E ratio of -24.89 and a beta of 5.49. The business’s fifty day simple moving average is $23.25 and its 200-day simple moving average is $19.02.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The company had revenue of $115.24 million for the quarter, compared to analyst estimates of $117.04 million. During the same quarter last year, the business posted $1.25 EPS. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. On average, analysts forecast that Core Scientific, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $32.00 price target on shares of Core Scientific in a report on Wednesday, June 3rd. BTIG Research increased their price objective on Core Scientific from $23.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. B. Riley Financial lifted their target price on Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a research report on Monday, April 20th. Finally, Jefferies Financial Group upped their price target on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.49.

Hedge Funds Weigh In On Core Scientific

Large investors have recently bought and sold shares of the business. Xponance LLC lifted its stake in shares of Core Scientific by 2.5% in the 4th quarter. Xponance LLC now owns 22,896 shares of the company’s stock valued at $333,000 after purchasing an additional 562 shares during the period. Xponance Inc. lifted its stake in Core Scientific by 2.7% in the third quarter. Xponance Inc. now owns 22,334 shares of the company’s stock valued at $401,000 after buying an additional 595 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Core Scientific by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,029 shares of the company’s stock worth $377,000 after buying an additional 711 shares during the last quarter. CWA Asset Management Group LLC grew its position in shares of Core Scientific by 0.3% during the 4th quarter. CWA Asset Management Group LLC now owns 239,937 shares of the company’s stock worth $3,493,000 after buying an additional 756 shares during the period. Finally, Orion Porfolio Solutions LLC grew its position in shares of Core Scientific by 5.2% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after buying an additional 766 shares during the period.

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.