Core Scientific, Inc. (NASDAQ:CORZ) Director Yadin Rozov Buys 110,000 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Yadin Rozov bought 110,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was bought at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the acquisition, the director now owns 475,687 shares in the company, valued at approximately $5,170,717.69. This represents a 30.08% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Core Scientific Stock Performance

Shares of Core Scientific stock opened at $10.69 on Friday. The company has a market cap of $3.18 billion, a P/E ratio of -1.98 and a beta of 6.66. Core Scientific, Inc. has a one year low of $4.46 and a one year high of $18.63. The firm has a fifty day moving average of $8.48 and a two-hundred day moving average of $11.78.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million during the quarter, compared to analyst estimates of $92.04 million. Core Scientific’s revenue was down 55.6% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. As a group, equities analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CORZ. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research report on Friday, May 9th. Compass Point cut their target price 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. Citizens Jmp raised Core Scientific to a “strong-buy” rating and set a $15.00 target price for the company in a research report on Thursday, May 22nd. JMP Securities initiated coverage on Core Scientific in a research note on Thursday, May 22nd. They set a “market outperform” rating and a $15.00 price target on the stock. Finally, Citigroup initiated coverage on Core Scientific in a research note on Thursday, May 22nd. They issued an “outperform” rating for the company. Eighteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of “Buy” and an average price target of $18.33.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. boosted its stake in shares of Core Scientific by 7.9% during the 4th quarter. Xponance Inc. now owns 12,800 shares of the company’s stock worth $180,000 after acquiring an additional 937 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Core Scientific by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company’s stock worth $262,000 after purchasing an additional 1,185 shares during the last quarter. Wellington Management Group LLP boosted its position in Core Scientific by 11.7% during the first quarter. Wellington Management Group LLP now owns 11,967 shares of the company’s stock worth $87,000 after purchasing an additional 1,256 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in Core Scientific by 17.8% in the first quarter. SBI Securities Co. Ltd. now owns 10,391 shares of the company’s stock valued at $75,000 after purchasing an additional 1,567 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Core Scientific by 23.7% in the first quarter. US Bancorp DE now owns 8,682 shares of the company’s stock valued at $63,000 after buying an additional 1,663 shares in the last quarter.

About Core Scientific

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.