Todd Duchene Sells 10,000 Shares of Core Scientific (NASDAQ:CORZ) 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, July 6th. The stock was sold at an average price of $22.63, for a total transaction of $226,300.00. Following the transaction, the insider directly owned 2,023,426 shares of the company’s stock, valued at $45,790,130.38. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Core Scientific Price Performance

NASDAQ CORZ opened at $23.74 on Friday. The company has a market capitalization of $7.55 billion, a PE ratio of -20.82 and a beta of 5.50. The company has a fifty day moving average of $25.44 and a 200 day moving average of $20.15. Core Scientific, Inc. has a 1 year low of $12.42 and a 1 year high of $30.46.

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

Institutional Trading of Core Scientific

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its stake in Core Scientific by 206.5% during the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after purchasing an additional 950 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after purchasing an additional 1,686 shares during the last quarter. Osaic Holdings Inc. grew its position in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after buying an additional 1,066 shares during the last quarter. Danske Bank A S acquired a new position in shares of Core Scientific during the fourth quarter worth about $36,000. Finally, CoreCap Advisors LLC acquired a new position in Core Scientific during the 2nd quarter worth approximately $36,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on CORZ. Cantor Fitzgerald lifted their price target on shares of Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Loop Capital set a $40.00 price target on Core Scientific in a report on Friday, June 12th. Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a research note on Monday, April 20th. Finally, Needham & Company LLC increased their price objective on shares of Core Scientific from $23.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Core Scientific presently has an average rating of “Moderate Buy” and an average target price of $29.78.

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.