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

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $22.63, for a total value of $226,300.00. Following the completion of the transaction, the insider directly owned 2,023,426 shares in the company, valued at approximately $45,790,130.38. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Core Scientific Stock Performance

Shares of Core Scientific stock traded up $1.96 during trading on Wednesday, hitting $23.50. 15,960,151 shares of the stock traded hands, compared to its average volume of 12,898,589. The stock has a market cap of $7.47 billion, a P/E ratio of -20.61 and a beta of 5.50. The company has a fifty day moving average price of $25.31 and a two-hundred day moving average price of $20.03. Core Scientific, Inc. has a twelve month low of $12.42 and a twelve month high of $30.46.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) earnings per share 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 analysts’ expectations of $117.04 million. The business’s quarterly revenue was up 44.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, equities research analysts expect that Core Scientific, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds have recently bought and sold shares of CORZ. Allworth Financial LP increased its stake in shares of Core Scientific by 206.5% in the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after purchasing an additional 950 shares during the period. Larson Financial Group LLC boosted its stake in Core Scientific by 936.7% during the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after purchasing an additional 1,686 shares during the period. Osaic Holdings Inc. grew its holdings in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after buying an additional 1,066 shares during the last quarter. Danske Bank A S acquired a new stake in Core Scientific in the 4th quarter valued at approximately $36,000. Finally, CoreCap Advisors LLC bought a new position in Core Scientific in the 2nd quarter worth approximately $36,000.

Analyst Upgrades and Downgrades

CORZ has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a report on Monday, April 20th. Loop Capital set a $40.00 price target on Core Scientific in a research note on Friday, June 12th. Needham & Company LLC raised their price objective on Core Scientific from $23.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group boosted their target price on Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, B. Riley Financial upped their target price on Core Scientific from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.78.

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.