Core Scientific (NASDAQ:CORZ) Insider Todd Duchene Sells 10,000 Shares

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $28.19, for a total transaction of $281,900.00. Following the transaction, the insider directly owned 2,058,895 shares in the company, valued at $58,040,250.05. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Core Scientific Price Performance

CORZ opened at $28.38 on Thursday. Core Scientific, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $30.46. The firm has a market capitalization of $9.02 billion, a PE ratio of -24.89 and a beta of 5.49. The company’s 50-day moving average is $23.49 and its 200 day moving average is $19.10.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The company had revenue of $115.24 million for the quarter, compared to the consensus estimate of $117.04 million. During the same quarter in the previous year, the company earned $1.25 EPS. Core Scientific’s revenue was up 44.9% compared to the same quarter last year. As a group, analysts expect that Core Scientific, Inc. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

CORZ has been the topic of a number of analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $32.00 target price on shares of Core Scientific in a report on Wednesday, June 3rd. Freedom Capital upgraded shares of Core Scientific to a “hold” rating in a report on Monday. Wall Street Zen upgraded shares of Core Scientific to a “sell” rating in a report on Saturday, March 14th. Loop Capital set a $40.00 target price on shares of Core Scientific in a report on Friday, June 12th. Finally, BTIG Research upped their target price on shares of Core Scientific from $23.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.49.

Institutional Investors Weigh In On Core Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xponance LLC raised its stake in shares of Core Scientific by 2.5% during the 4th quarter. Xponance LLC now owns 22,896 shares of the company’s stock worth $333,000 after purchasing an additional 562 shares during the period. Xponance Inc. boosted its holdings in shares of Core Scientific by 2.7% in the 3rd quarter. Xponance Inc. now owns 22,334 shares of the company’s stock worth $401,000 after buying an additional 595 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Core Scientific by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,029 shares of the company’s stock worth $377,000 after buying an additional 711 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in shares of Core Scientific by 0.3% in the 4th quarter. CWA Asset Management Group LLC now owns 239,937 shares of the company’s stock worth $3,493,000 after buying an additional 756 shares during the last quarter. Finally, Orion Porfolio Solutions LLC boosted its holdings in shares of Core Scientific by 5.2% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after buying an additional 766 shares during the last quarter.

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.