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

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $26.17, for a total transaction of $261,700.00. Following the completion of the transaction, the insider owned 2,038,895 shares of the company’s stock, valued at approximately $53,357,882.15. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Core Scientific Trading Down 7.3%

Shares of NASDAQ CORZ opened at $23.71 on Thursday. The business has a 50-day moving average price of $25.24 and a two-hundred day moving average price of $19.84. Core Scientific, Inc. has a one year low of $12.42 and a one year high of $30.46. The firm has a market capitalization of $7.54 billion, a PE ratio of -20.80 and a beta of 5.49.

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

Institutional Investors Weigh In On Core Scientific

Several institutional investors have recently bought and sold shares of CORZ. Allworth Financial LP increased its position in shares of Core Scientific by 206.5% during the 3rd 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 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 buying an additional 1,686 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of Core Scientific by 112.1% in the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after purchasing an additional 1,066 shares during the last quarter. Danske Bank A S bought a new position in Core Scientific during the 4th quarter worth $36,000. Finally, PNC Financial Services Group Inc. raised its stake in Core Scientific by 41.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,396 shares of the company’s stock worth $66,000 after purchasing an additional 1,285 shares in the last quarter.

Analysts Set New Price Targets

CORZ has been the topic of several recent analyst reports. Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a report on Friday, June 12th. Freedom Capital raised shares of Core Scientific to a “hold” rating in a report on Monday, June 15th. BTIG Research raised their target price on Core Scientific from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a research report on Monday, April 20th. Finally, Loop Capital set a $40.00 target price on Core Scientific in a report on Friday, June 12th. Two investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.