Core Scientific (NASDAQ:CORZ) Stock Price Up 5.9%

Core Scientific, Inc. (NASDAQ:CORZ) shares rose 5.9% on Thursday . The company traded as high as $2.91 and last traded at $2.86. Approximately 508,386 shares traded hands during trading, a decline of 84% from the average daily volume of 3,221,217 shares. The stock had previously closed at $2.70.

Wall Street Analysts Forecast Growth

CORZ has been the subject of a number of recent analyst reports. Compass Point raised shares of Core Scientific from a “neutral” rating to a “buy” rating and raised their price target for the company from $1.00 to $8.50 in a report on Wednesday, January 31st. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Core Scientific in a report on Wednesday, March 13th.

Core Scientific Trading Up 7.6 %

The company’s fifty day simple moving average is $3.43 and its two-hundred day simple moving average is $1.98.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.17). The business had revenue of $141.93 million for the quarter, compared to the consensus estimate of $133.10 million. Sell-side analysts predict that Core Scientific, Inc. will post -0.17 earnings per share for the current year.

Insider Transactions at Core Scientific

In other Core Scientific news, CEO Adam Taylor Sullivan purchased 65,300 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $3.06 per share, with a total value of $199,818.00. Following the acquisition, the chief executive officer now owns 93,753 shares of the company’s stock, valued at approximately $286,884.18. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Core Scientific news, CEO Adam Taylor Sullivan purchased 65,300 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $3.06 per share, with a total value of $199,818.00. Following the acquisition, the chief executive officer now owns 93,753 shares of the company’s stock, valued at approximately $286,884.18. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eric Stanton Weiss purchased 15,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $3.03 per share, with a total value of $45,450.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $45,450. The disclosure for this purchase can be found here. Insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Republic Investment Management Inc. acquired a new position in Core Scientific during the 2nd quarter valued at about $28,000. Legal & General Group Plc acquired a new stake in shares of Core Scientific in the 2nd quarter worth approximately $28,000. BSW Wealth Partners acquired a new stake in shares of Core Scientific in the 1st quarter worth approximately $30,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Core Scientific in the 2nd quarter worth approximately $31,000. Finally, Hexagon Capital Partners LLC acquired a new stake in shares of Core Scientific in the 1st quarter worth approximately $34,000.

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.