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

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of Core Scientific stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $20.94, for a total value of $209,400.00. Following the completion of the sale, the insider directly owned 1,990,348 shares in the company, valued at approximately $41,677,887.12. The trade was a 0.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Core Scientific Stock Performance

NASDAQ:CORZ opened at $19.56 on Thursday. The stock’s fifty day moving average is $17.37 and its 200 day moving average is $17.42. Core Scientific, Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $23.63. The firm has a market capitalization of $6.17 billion, a PE ratio of 16.72 and a beta of 6.34.

Core Scientific (NASDAQ:CORZ) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $118.45 million. During the same quarter in the previous year, the company posted ($0.69) EPS. The business’s quarterly revenue was down 16.0% on a year-over-year basis. Equities analysts forecast that Core Scientific, Inc. will post 0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

CORZ has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Core Scientific to a “sell” rating in a report on Saturday, March 14th. Canaccord Genuity Group upped their target price on Core Scientific from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Keefe, Bruyette & Woods upped their price objective on Core Scientific from $19.00 to $25.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. LADENBURG THALM/SH SH decreased their price objective on Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Needham & Company LLC raised Core Scientific from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Core Scientific presently has an average rating of “Moderate Buy” and an average price target of $25.07.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CORZ. AQR Capital Management LLC increased its holdings in shares of Core Scientific by 106.1% in the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock valued at $2,052,000 after purchasing an additional 145,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Core Scientific by 180.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock valued at $8,032,000 after purchasing an additional 714,388 shares during the period. Cetera Investment Advisers increased its holdings in shares of Core Scientific by 200.0% in the second quarter. Cetera Investment Advisers now owns 38,819 shares of the company’s stock valued at $663,000 after purchasing an additional 25,878 shares during the period. Franklin Resources Inc. acquired a new position in shares of Core Scientific in the second quarter valued at about $181,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Core Scientific by 61.9% in the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after purchasing an additional 1,507 shares during the period.

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.