Core Scientific (NASDAQ:CORZ) Reaches New 12-Month Low After Insider Selling

Core Scientific, Inc. (NASDAQ:CORZ)’s share price reached a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $12.91 and last traded at $12.5230, with a volume of 261,869 shares changing hands. The stock had previously closed at $13.51.

Specifically, insider Todd DuChene sold 10,000 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $15.12, for a total value of $151,200.00. Following the completion of the sale, the insider owned 1,159,668 shares of the company’s stock, valued at $17,534,180.16. The trade was a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

Several brokerages have recently commented on CORZ. Canaccord Genuity Group reaffirmed a “buy” rating and set a $36.00 target price on shares of Core Scientific in a report on Thursday. BTIG Research reiterated a “buy” rating and issued a $38.00 price target on shares of Core Scientific in a research note on Thursday. Needham & Company LLC boosted their price target on Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods raised Core Scientific from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $25.00 to $28.00 in a research report on Thursday, July 30th. Finally, Capital One Financial set a $33.00 price objective on Core Scientific in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific has a consensus rating of “Moderate Buy” and an average target price of $31.36.

Key Stories Impacting Core Scientific

Here are the key news stories impacting Core Scientific this week:

• Positive Sentiment: Analyst targets imply substantial upside. Canaccord Genuity reaffirmed a “Buy” rating with a $36 price target, while BTIG Research maintained its “Buy” rating and set a $38 target. Cantor Fitzgerald also reaffirmed its “Overweight” rating with a $39 target. These targets reflect analysts’ confidence in Core Scientific’s data-center and artificial-intelligence infrastructure growth prospects. Canaccord Genuity analyst rating
• Positive Sentiment: Needham maintained a $35 price target. The firm reiterated its bullish outlook despite credit-related concerns involving CoreWeave, Core Scientific’s tenant and key AI infrastructure customer. Needham reiterates Core Scientific target
• Neutral Sentiment: Third-quarter results are scheduled for November 5. Core Scientific will release fiscal third-quarter 2026 results before market open and host a conference call at 8:30 a.m. Eastern time. The event gives investors a near-term catalyst to assess revenue growth, profitability, data-center expansion and customer concentration. Core Scientific earnings release announcement
• Negative Sentiment: An insider sold $151,200 of stock. Director Todd Duchene sold 10,000 shares at an average price of $15.12, reducing his direct ownership by 0.85%. Although he still owns more than 1.15 million shares, the transaction may add modest selling pressure or raise caution among investors. Core Scientific insider sale
• Negative Sentiment: Credit concerns surrounding CoreWeave could weigh on sentiment. Because CoreWeave is an important tenant, questions about its financial strength could increase concerns about customer concentration, contract execution and the pace of Core Scientific’s AI infrastructure expansion.

Core Scientific Stock Performance

The stock has a market capitalization of $3.99 billion, a P/E ratio of -2.80 and a beta of 5.49. The firm’s fifty day simple moving average is $17.58 and its 200 day simple moving average is $21.05.

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

Institutional Investors Weigh In On Core Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Core Scientific in the 2nd quarter valued at $719,649,000. Jericho Capital Asset Management L.P. raised its holdings in shares of Core Scientific by 11.4% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock worth $189,842,000 after buying an additional 1,338,796 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Core Scientific by 412.5% during the 1st quarter. Bank of America Corp DE now owns 4,806,363 shares of the company’s stock worth $71,903,000 after buying an additional 3,868,535 shares in the last quarter. Clearline Capital LP grew its position in Core Scientific by 274.2% in the fourth quarter. Clearline Capital LP now owns 4,689,443 shares of the company’s stock valued at $68,278,000 after acquiring an additional 3,436,127 shares during the last quarter. Finally, Apollo Management Holdings L.P. acquired a new position in Core Scientific during the second quarter worth about $115,671,000.

About Core Scientific

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers in the United States. Its business has historically centered on cryptocurrency mining, particularly the processing of transactions on the Bitcoin network, while also providing hosting and infrastructure services to other mining and technology customers.

The company is expanding its data center capabilities to support high-performance computing and artificial intelligence workloads. Its services include data center operations, power and equipment management, hosting, and related infrastructure support for customers that require substantial computing capacity.

Core Scientific was founded in 2017 and became a publicly traded company through a business combination in 2022.