Core Scientific, Inc. (NASDAQ:CORZ) Director Sells $1,443,187.50 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. This trade represents a 40.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Core Scientific Stock Up 0.1 %

Shares of CORZ stock opened at $9.60 on Thursday. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -1.77 and a beta of 6.83. The stock has a fifty day moving average of $12.91 and a 200 day moving average of $13.31. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to analysts’ expectations of $97.07 million. Equities research analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Institutional Trading of Core Scientific

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CORZ. Macquarie lifted their target price on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Roth Mkm began coverage on Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective on the stock. Needham & Company LLC lowered their target price on Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Compass Point reduced their price target on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, Roth Capital upgraded Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $19.07.

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.