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 the firm’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $13.87, for a total transaction of $138,700.00. Following the completion of the transaction, the insider directly owned 1,143,286 shares of the company’s stock, valued at $15,857,376.82. This represents a 0.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Core Scientific Price Performance

NASDAQ CORZ traded up $0.06 on Tuesday, hitting $13.79. 16,715,102 shares of the stock were exchanged, compared to its average volume of 12,783,755. The company’s 50-day moving average price is $17.19 and its two-hundred day moving average price is $21.04. Core Scientific, Inc. has a 52-week low of $12.31 and a 52-week high of $30.46. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -3.12 and a beta of 5.49.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Equities analysts predict that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Trading of Core Scientific

Hedge funds and other institutional investors have recently modified their holdings of the company. Genesee Capital Advisors LLC acquired a new stake in Core Scientific during the third quarter valued at $165,000. Counterpoint Mutual Funds LLC increased its position in Core Scientific by 9.3% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 14,425 shares of the company’s stock worth $231,000 after purchasing an additional 1,224 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Core Scientific in the 3rd quarter worth about $566,000. State of Alaska Department of Revenue increased its position in Core Scientific by 36.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,493 shares of the company’s stock worth $279,000 after purchasing an additional 4,701 shares during the last quarter. Finally, Reliant Investment Management LLC purchased a new stake in shares of Core Scientific during the 3rd quarter worth about $336,000.

Analyst Ratings Changes

CORZ has been the subject of several research analyst reports. Compass Point reissued a “buy” rating and issued a $36.00 price objective on shares of Core Scientific in a research note on Wednesday, July 29th. Rothschild & Co Redburn initiated coverage on Core Scientific in a research note on Monday, September 21st. They set a “neutral” rating and a $16.00 target price on the stock. B. Riley Financial upped their target price on Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research report on Thursday. Finally, UBS Group restated a “market outperform” rating on shares of Core Scientific in a report on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.36.

Core Scientific Company Profile

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.

Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.