Core Scientific (NASDAQ:CORZ) Director Purchases $109,980.00 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Elizabeth Crain bought 6,000 shares of Core Scientific stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average price of $18.33 per share, with a total value of $109,980.00. Following the purchase, the director owned 71,348 shares of the company’s stock, valued at $1,307,808.84. This trade represents a 9.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Core Scientific Stock Down 3.4%

Core Scientific stock opened at $17.42 on Thursday. The business has a 50 day moving average price of $22.33 and a two-hundred day moving average price of $21.04. Core Scientific, Inc. has a 12 month low of $13.14 and a 12 month high of $30.46. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of -3.94 and a beta of 5.59.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The firm had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. On average, analysts expect that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Core Scientific in the 2nd quarter valued at about $719,649,000. Situational Awareness LP boosted its holdings in shares of Core Scientific by 42.5% during the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock worth $418,694,000 after acquiring an additional 8,575,944 shares during the period. Value Aligned Research Advisors LLC bought a new stake in shares of Core Scientific during the fourth quarter worth approximately $117,786,000. California State Teachers Retirement System grew its position in shares of Core Scientific by 2,488.6% in the second quarter. California State Teachers Retirement System now owns 7,479,420 shares of the company’s stock valued at $191,398,000 after purchasing an additional 7,190,484 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Core Scientific by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after purchasing an additional 5,359,710 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Lucid Cap Mkts raised Core Scientific to a “strong-buy” rating in a report on Friday, June 12th. Sanford C. Bernstein reissued an “outperform” rating and set a $32.00 price objective on shares of Core Scientific in a report on Wednesday, June 3rd. Loop Capital set a $40.00 price objective on shares of Core Scientific in a research report on Friday, June 12th. Keefe, Bruyette & Woods raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $25.00 to $28.00 in a research note on Thursday, July 30th. Finally, B. Riley Financial upped their target price on shares of Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Core Scientific currently has an average rating of “Moderate Buy” and an average target price of $32.18.

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.