Core Scientific (NASDAQ:CORZ) Stock Price Down 5.1%

Core Scientific, Inc. (NASDAQ:CORZ) shares traded down 5.1% during trading on Wednesday . The stock traded as low as $3.30 and last traded at $3.32. 1,027,346 shares changed hands during trading, a decline of 69% from the average session volume of 3,263,914 shares. The stock had previously closed at $3.50.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Core Scientific in a report on Wednesday, March 13th. Compass Point raised shares of Core Scientific from a “neutral” rating to a “buy” rating and increased their price objective for the company from $1.00 to $8.50 in a report on Wednesday, January 31st.

Core Scientific Price Performance

The business has a 50 day simple moving average of $3.41 and a two-hundred day simple moving average of $2.03.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.17). The firm had revenue of $141.93 million for the quarter, compared to analysts’ expectations of $133.10 million. As a group, sell-side analysts expect that Core Scientific, Inc. will post -0.17 EPS for the current year.

Insider Transactions at Core Scientific

In other news, Director Eric Stanton Weiss purchased 15,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $3.03 per share, for a total transaction of $45,450.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $45,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eric Stanton Weiss bought 15,000 shares of the stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $3.03 per share, for a total transaction of $45,450.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $45,450. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam Taylor Sullivan bought 65,300 shares of the stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $3.06 per share, with a total value of $199,818.00. Following the completion of the acquisition, the chief executive officer now directly owns 93,753 shares in the company, valued at approximately $286,884.18. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Core Scientific

A hedge fund recently bought a new stake in Core Scientific stock. Hexagon Capital Partners LLC acquired a new position in shares of Core Scientific, Inc. (NASDAQ:CORZ) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,722 shares of the company’s stock, valued at approximately $34,000.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.