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 dated Monday, August 10th. The shares were sold at an average price of $19.97, for a total value of $199,700.00. Following the transaction, the insider directly owned 1,969,101 shares in the company, valued at approximately $39,322,946.97. The trade was a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Core Scientific Trading Up 5.6%

Shares of NASDAQ:CORZ opened at $20.87 on Thursday. The stock has a 50 day moving average of $24.06 and a 200 day moving average of $21.00. The company has a market cap of $6.71 billion, a PE ratio of -4.72 and a beta of 5.59. Core Scientific, Inc. has a 12-month low of $13.14 and a 12-month high of $30.46.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The business had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. Equities research analysts predict that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Institutional Trading of Core Scientific

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of Core Scientific by 206.5% during the 3rd 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 last quarter. CoreCap Advisors LLC bought a new stake in Core Scientific in the second quarter worth $36,000. Rakuten Securities Inc. bought a new stake in Core Scientific in the second quarter worth $47,000. Larson Financial Group LLC raised its stake in 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 purchasing an additional 1,686 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in Core Scientific by 112.1% during the second 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.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Core Scientific from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Needham & Company LLC raised their price target on Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Lucid Cap Mkts upgraded Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. Compass Point reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Core Scientific in a research note on Wednesday, July 29th. Finally, Wolfe Research reiterated a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Core Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $32.18.

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.