Investors Purchase Large Volume of Core Scientific Call Options (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) saw some unusual options trading on Monday. Stock investors purchased 85,282 call options on the stock. This represents an increase of 49% compared to the typical daily volume of 57,110 call options.

Analyst Upgrades and Downgrades

A number of research firms have commented on CORZ. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. BTIG Research lifted their price objective on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. B. Riley raised their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Craig Hallum assumed coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Roth Mkm started coverage on Core Scientific in a research note on Friday, November 15th. They set a “buy” rating and a $25.50 target price on the stock. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $19.07.

Core Scientific Stock Down 8.7 %

CORZ stock traded down $0.94 during trading hours on Monday, hitting $9.86. The company’s stock had a trading volume of 19,200,638 shares, compared to its average volume of 10,855,293. The stock has a 50 day moving average price of $13.69 and a two-hundred day moving average price of $13.30. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63. The company has a market capitalization of $2.75 billion and a PE ratio of -1.82.

Insider Activity

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the transaction, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,849,220.64. Following the sale, the insider now directly owns 2,051,649 shares of the company’s stock, valued at approximately $29,215,481.76. This represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 614,032 shares of company stock worth $9,534,916. 32.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Core Scientific

Large investors have recently bought and sold shares of the business. Wellington Shields & Co. LLC acquired a new stake in shares of Core Scientific in the fourth quarter worth about $26,000. First Horizon Advisors Inc. bought a new position in shares of Core Scientific in the 4th quarter valued at approximately $34,000. Newbridge Financial Services Group Inc. bought a new position in shares of Core Scientific in the 4th quarter valued at approximately $42,000. Vestcor Inc acquired a new stake in Core Scientific in the 4th quarter worth approximately $66,000. Finally, US Bancorp DE bought a new stake in Core Scientific during the fourth quarter worth approximately $99,000.

Core Scientific Company Profile

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.