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 firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $22.23, for a total transaction of $222,300.00. Following the completion of the transaction, the insider directly owned 1,979,101 shares in the company, valued at $43,995,415.23. This represents a 0.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Core Scientific Price Performance

Shares of CORZ opened at $21.77 on Thursday. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -4.93 and a beta of 5.59. Core Scientific, Inc. has a 1-year low of $13.14 and a 1-year high of $30.46. The company has a 50-day moving average of $24.84 and a 200 day moving average of $20.93.

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

Hedge Funds Weigh In On Core Scientific

A number of large investors have recently bought and sold shares of CORZ. Allworth Financial LP increased its holdings in shares of Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after acquiring an additional 950 shares during the period. Larson Financial Group LLC lifted its stake in shares of Core Scientific by 936.7% during the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after purchasing an additional 1,686 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after purchasing an additional 1,066 shares during the last quarter. Danske Bank A S bought a new stake in Core Scientific during the fourth quarter valued at about $36,000. Finally, CoreCap Advisors LLC bought a new stake in Core Scientific during the second quarter valued at about $36,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Needham & Company LLC upped their target price on Core Scientific from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. B. Riley Financial raised their price target on Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a report on Friday, July 17th. Wolfe Research reaffirmed a “buy” rating on shares of Core Scientific in a research note on Wednesday, July 29th. Finally, Loop Capital set a $40.00 target price on shares of Core Scientific in a report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.18.

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.