Core Scientific Target of Unusually High Options Trading (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) saw some unusual options trading activity on Tuesday. Traders acquired 18,061 put options on the stock. This represents an increase of approximately 300% compared to the typical volume of 4,513 put options.

Insider Activity

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

Institutional Trading of Core Scientific

A number of hedge funds have recently made changes to their positions in CORZ. Capstone Investment Advisors LLC bought a new position in Core Scientific during the first quarter valued at approximately $307,000. Perigon Wealth Management LLC bought a new position in Core Scientific during the first quarter valued at approximately $688,000. Lindbrook Capital LLC bought a new position in Core Scientific during the first quarter valued at approximately $65,000. Hexagon Capital Partners LLC bought a new position in Core Scientific during the first quarter valued at approximately $34,000. Finally, Fiduciary Alliance LLC bought a new position in Core Scientific during the first quarter valued at approximately $84,000.

Core Scientific Price Performance

NASDAQ CORZ opened at $3.00 on Thursday. The company has a 50 day simple moving average of $3.37 and a 200-day simple moving average of $2.13. Core Scientific has a 52-week low of $2.61 and a 52-week high of $6.10.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.17). The firm had revenue of $141.93 million for the quarter, compared to analyst estimates of $133.10 million. Research analysts predict that Core Scientific will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Compass Point upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and raised their target price for the stock from $1.00 to $8.50 in a report on Wednesday, January 31st. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Core Scientific in a report on Wednesday, March 13th.

Core Scientific Company Profile

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.