Insider Selling: Core Scientific (NASDAQ:CORZ) Insider Sells 10,000 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $22.63, for a total transaction of $226,300.00. Following the transaction, the insider directly owned 2,023,426 shares in the company, valued at $45,790,130.38. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Core Scientific Stock Up 9.1%

Core Scientific stock traded up $1.96 during mid-day trading on Wednesday, reaching $23.50. The company had a trading volume of 15,960,151 shares, compared to its average volume of 12,898,589. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of -20.61 and a beta of 5.50. The company has a 50 day moving average of $25.31 and a 200-day moving average of $20.03. Core Scientific, Inc. has a 52 week low of $12.42 and a 52 week high of $30.46.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The firm had revenue of $115.24 million for the quarter, compared to the consensus estimate of $117.04 million. The business’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. On average, analysts predict that Core Scientific, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Core Scientific

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a report on Monday, April 20th. Needham & Company LLC boosted their price objective on Core Scientific from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Freedom Capital upgraded Core Scientific to a “hold” rating in a research note on Monday, June 15th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Core Scientific in a research report on Wednesday, June 3rd. Finally, BTIG Research lifted their price target on shares of Core Scientific from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Core Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.78.

About Core Scientific

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.