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 company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $26.25, for a total value of $262,500.00. Following the sale, the insider owned 2,088,895 shares of the company’s stock, valued at approximately $54,833,493.75. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Core Scientific Trading Up 2.1%

Core Scientific stock opened at $27.76 on Friday. The company has a market capitalization of $8.82 billion, a PE ratio of -24.35 and a beta of 5.45. Core Scientific, Inc. has a 12 month low of $10.45 and a 12 month high of $28.19. The stock has a 50-day moving average price of $20.22 and a two-hundred day moving average price of $17.95.

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 business had revenue of $115.24 million during the quarter, compared to analysts’ expectations of $117.04 million. The company’s revenue was up 44.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 EPS. As a group, analysts predict that Core Scientific, Inc. will post 0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CORZ has been the subject of several research reports. LADENBURG THALM/SH SH dropped their target price on Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Canaccord Genuity Group set a $30.00 target price on Core Scientific in a research report on Friday, May 8th. Wall Street Zen upgraded Core Scientific to a “sell” rating in a research report on Saturday, March 14th. B. Riley Financial increased their target price on Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group increased their target price on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.33.

Institutional Investors Weigh In On Core Scientific

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Core Scientific by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after buying an additional 5,359,710 shares during the period. Situational Awareness LP increased its stake in shares of Core Scientific by 42.5% in the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after buying an additional 8,575,944 shares during the period. Jericho Capital Asset Management L.P. increased its stake in shares of Core Scientific by 11.4% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock valued at $189,842,000 after buying an additional 1,338,796 shares during the period. Value Aligned Research Advisors LLC acquired a new stake in shares of Core Scientific in the fourth quarter valued at about $117,786,000. Finally, Geode Capital Management LLC increased its stake in shares of Core Scientific by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 7,651,002 shares of the company’s stock valued at $111,417,000 after buying an additional 109,145 shares during the period.

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.