Core Scientific (NASDAQ:CORZ) Stock: Insider Todd Duchene Sells 10,000 Shares

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $18.37, for a total value of $183,700.00. Following the completion of the sale, the insider owned 1,197,896 shares in the company, valued at $22,005,349.52. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Core Scientific Price Performance

NASDAQ:CORZ opened at $18.12 on Friday. Core Scientific, Inc. has a 1 year low of $13.35 and a 1 year high of $30.46. The stock’s fifty day moving average price is $19.27 and its two-hundred day moving average price is $21.09. The company has a market cap of $5.82 billion, a P/E ratio of -4.10 and a beta of 5.48.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The company had revenue of $164.20 million for the quarter, compared to analyst estimates of $144.83 million. On average, analysts expect that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Loop Capital set a $40.00 target price on shares of Core Scientific in a report on Friday, June 12th. Rothschild & Co Redburn began coverage on shares of Core Scientific in a research report on Monday. They set a “neutral” rating and a $16.00 price target for the company. Wells Fargo & Company initiated coverage on Core Scientific in a research note on Thursday, September 17th. They set an “overweight” rating and a $28.00 price objective on the stock. UBS Group began coverage on Core Scientific in a research note on Wednesday. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised Core Scientific from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $25.00 to $28.00 in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.86.

Institutional Trading of Core Scientific

Several large investors have recently added to or reduced their stakes in CORZ. Engineers Gate Manager LP bought a new position in shares of Core Scientific in the 2nd quarter worth approximately $1,671,000. Squarepoint Ops LLC boosted its position in shares of Core Scientific by 64.1% during the second quarter. Squarepoint Ops LLC now owns 2,686,177 shares of the company’s stock valued at $68,739,000 after purchasing an additional 1,049,678 shares in the last quarter. Arizona State Retirement System grew its stake in Core Scientific by 2.3% in the second quarter. Arizona State Retirement System now owns 69,666 shares of the company’s stock worth $1,783,000 after purchasing an additional 1,533 shares during the period. Nykredit A S purchased a new stake in Core Scientific in the second quarter worth $263,000. Finally, Parkside Financial Bank & Trust raised its holdings in Core Scientific by 1,371.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company’s stock worth $30,000 after purchasing an additional 1,097 shares in the last quarter.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a digital infrastructure company that develops and operates data centers for high-performance computing. Its business has historically centered on large-scale bitcoin mining, including the deployment and operation of specialized computing equipment and supporting power, networking and facility infrastructure.

The company also provides hosting and colocation services for digital asset miners and other high-performance computing customers. Core Scientific has increasingly focused on expanding its data center platform for artificial intelligence and other compute-intensive workloads, including infrastructure designed to support graphics processing unit (GPU) deployments.

Founded in 2017, Core Scientific operates data center facilities in the United States and emerged from Chapter 11 bankruptcy protection in January 2024.