Core Scientific (NASDAQ:CORZ) Trading 9% Higher

Core Scientific, Inc. (NASDAQ:CORZ)’s share price shot up 9% on Thursday . The company traded as high as $3.29 and last traded at $3.27. 981,660 shares changed hands during trading, a decline of 69% from the average session volume of 3,166,052 shares. The stock had previously closed at $3.00.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Core Scientific in a research note on Wednesday, March 13th. Compass Point upgraded Core Scientific from a “neutral” rating to a “buy” rating and lifted their price target for the company from $1.00 to $8.50 in a research note on Wednesday, January 31st.

Core Scientific Stock Up 6.7 %

The business’s 50 day moving average price is $3.37 and its two-hundred day moving average price is $2.13.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Tuesday, March 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.17). The business had revenue of $141.93 million for the quarter, compared to analysts’ expectations of $133.10 million. Sell-side analysts anticipate that Core Scientific, Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

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 price of $3.03 per share, with a total value of $45,450.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at $45,450. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Core Scientific news, Director Eric Stanton Weiss purchased 15,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $3.03 per share, with a total value of $45,450.00. Following the completion of the purchase, the director now owns 15,000 shares of the company’s stock, valued at $45,450. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam Taylor Sullivan purchased 65,300 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $3.06 per share, for a total transaction of $199,818.00. Following the acquisition, the chief executive officer now owns 93,753 shares of the company’s stock, valued at approximately $286,884.18. The disclosure for this purchase can be found here. 32.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Core Scientific

Hedge funds have recently made changes to their positions in the stock. Fiduciary Alliance LLC bought a new stake in Core Scientific in the first quarter valued at approximately $84,000. Hexagon Capital Partners LLC acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $34,000. Lindbrook Capital LLC bought a new stake in shares of Core Scientific in the 1st quarter valued at $65,000. Perigon Wealth Management LLC acquired a new stake in shares of Core Scientific during the first quarter worth $688,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Core Scientific during the 1st quarter worth about $307,000.

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.