Todd Duchene Sells 10,000 Shares of Core Scientific (NASDAQ:CORZ) Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $15.25, for a total transaction of $152,500.00. Following the sale, the insider owned 2,047,089 shares of the company’s stock, valued at $31,218,107.25. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Core Scientific Price Performance

Shares of CORZ stock opened at $16.23 on Friday. The stock’s 50-day moving average price is $16.85 and its 200 day moving average price is $17.18. The stock has a market capitalization of $5.12 billion, a PE ratio of 13.87 and a beta of 6.34. Core Scientific, Inc. has a 52-week low of $6.20 and a 52-week high of $23.63.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Monday, March 2nd. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $79.76 million during the quarter, compared to analysts’ expectations of $118.45 million. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.69) earnings per share. Analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CORZ. BTIG Research raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, January 6th. Cantor Fitzgerald reduced their target price on shares of Core Scientific from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Citizens Jmp raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Thursday, December 18th. Zacks Research upgraded shares of Core Scientific from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Finally, Citigroup raised shares of Core Scientific from a “market perform” rating to an “outperform” rating in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Core Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.84.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Creek Drive Management Group LLC acquired a new stake in Core Scientific in the fourth quarter valued at $1,638,000. Purpose Unlimited Inc. acquired a new position in shares of Core Scientific during the 4th quarter worth $312,000. Osbon Capital Management LLC purchased a new position in shares of Core Scientific in the 4th quarter valued at about $202,000. Green Ridge Wealth Planning LLC acquired a new stake in shares of Core Scientific in the fourth quarter valued at about $180,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Core Scientific by 2,631.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 46,987 shares of the company’s stock valued at $684,000 after purchasing an additional 45,267 shares during the period.

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.