Core Scientific (NASDAQ:CORZ) Director Eric Stanton Weiss Buys 7,000 Shares

Core Scientific, Inc. (NASDAQ:CORZ) Director Eric Stanton Weiss bought 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average price of $19.19 per share, with a total value of $134,330.00. Following the transaction, the director directly owned 259,262 shares in the company, valued at $4,975,237.78. The trade was a 2.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Core Scientific Price Performance

Shares of CORZ opened at $18.39 on Friday. Core Scientific, Inc. has a 1 year low of $13.14 and a 1 year high of $30.46. The stock has a 50 day simple moving average of $23.17 and a two-hundred day simple moving average of $21.01. The firm has a market cap of $5.91 billion, a P/E ratio of -4.16 and a beta of 5.59.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wolfe Research reissued a “buy” rating on shares of Core Scientific in a research note on Wednesday, July 29th. Jefferies Financial Group raised their price objective on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Capital One Financial set a $33.00 price objective on Core Scientific in a report on Thursday, July 30th. BTIG Research reissued a “buy” rating and issued a $38.00 target price on shares of Core Scientific in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods upgraded Core Scientific from a “market perform” rating to an “outperform” rating and increased their target price for the company from $25.00 to $28.00 in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Core Scientific currently has an average rating of “Moderate Buy” and an average price target of $32.18.

Hedge Funds Weigh In On Core Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Core Scientific by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock worth $494,462,000 after purchasing an additional 5,359,710 shares during the period. Bank of America Corp DE lifted its position in Core Scientific by 412.5% during the first quarter. Bank of America Corp DE now owns 4,806,363 shares of the company’s stock valued at $71,903,000 after buying an additional 3,868,535 shares during the period. Jennison Associates LLC bought a new stake in shares of Core Scientific during the 4th quarter valued at $14,075,000. Oasis Management Co Ltd. bought a new stake in shares of Core Scientific during the 4th quarter valued at $38,493,000. Finally, Sandro Wealth Management LLC purchased a new stake in shares of Core Scientific in the 4th quarter worth about $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.