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 on Monday, October 26th. The stock was sold at an average price of $13.56, for a total value of $135,600.00. Following the sale, the insider directly owned 1,133,286 shares of the company’s stock, valued at approximately $15,367,358.16. This trade represents a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Core Scientific Trading Up 5.1%

Shares of CORZ opened at $15.00 on Thursday. The company’s 50-day moving average price is $16.38 and its 200 day moving average price is $19.66. The firm has a market cap of $4.82 billion, a P/E ratio of -3.39 and a beta of 5.49. Core Scientific, Inc. has a 12-month low of $12.31 and a 12-month high of $30.46.

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

Analyst Ratings Changes

A number of research firms have commented on CORZ. BTIG Research restated a “buy” rating and set a $38.00 price target on shares of Core Scientific in a research note on Thursday, October 15th. Freedom Capital upgraded Core Scientific from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $39.00 price objective on shares of Core Scientific in a research note on Wednesday, October 14th. Capital One Financial set a $33.00 price objective on Core Scientific in a report on Thursday, July 30th. Finally, Wolfe Research reiterated a “buy” rating on shares of Core Scientific in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Core Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $31.78.

Institutional Trading of Core Scientific

Several institutional investors and hedge funds have recently made changes to their positions in the company. Partners Wealth Management LLC purchased a new position in shares of Core Scientific during the third quarter worth approximately $317,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Core Scientific by 5,468.6% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 389,800 shares of the company’s stock valued at $6,229,000 after acquiring an additional 382,800 shares during the period. Capelight Capital Asset Management LP raised its position in Core Scientific by 26.1% in the 3rd quarter. Capelight Capital Asset Management LP now owns 945,582 shares of the company’s stock valued at $15,110,000 after purchasing an additional 195,582 shares during the last quarter. Sterling Capital Management LLC raised its position in Core Scientific by 459.8% in the 3rd quarter. Sterling Capital Management LLC now owns 9,970 shares of the company’s stock valued at $159,000 after purchasing an additional 8,189 shares during the last quarter. Finally, Genesee Capital Advisors LLC purchased a new stake in Core Scientific in the 3rd quarter valued at $165,000.

Core Scientific Company Profile

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.

Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.