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

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $13.87, for a total value of $138,700.00. Following the sale, the insider directly owned 1,143,286 shares in the company, valued at approximately $15,857,376.82. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Core Scientific Trading Up 0.4%

Shares of CORZ stock opened at $13.79 on Wednesday. Core Scientific, Inc. has a twelve month low of $12.31 and a twelve month high of $30.46. The stock has a 50 day moving average of $17.07 and a 200 day moving average of $21.03.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The firm had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $144.83 million. On average, equities research analysts forecast that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core Scientific

Several institutional investors have recently bought and sold shares of CORZ. Genesee Capital Advisors LLC purchased a new position in shares of Core Scientific in the third quarter valued at approximately $165,000. Counterpoint Mutual Funds LLC boosted its stake in shares of Core Scientific by 9.3% in the third quarter. Counterpoint Mutual Funds LLC now owns 14,425 shares of the company’s stock worth $231,000 after acquiring an additional 1,224 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Core Scientific in the third quarter worth approximately $566,000. State of Alaska Department of Revenue increased its position in shares of Core Scientific by 36.7% during the third quarter. State of Alaska Department of Revenue now owns 17,493 shares of the company’s stock worth $279,000 after purchasing an additional 4,701 shares in the last quarter. Finally, Reliant Investment Management LLC purchased a new stake in shares of Core Scientific during the third quarter worth approximately $336,000.

Wall Street Analyst Weigh In

Several analysts recently commented on CORZ shares. Compass Point restated a “buy” rating and set a $36.00 price target on shares of Core Scientific in a research report on Wednesday, July 29th. Capital One Financial set a $33.00 target price on Core Scientific in a research report on Thursday, July 30th. Cantor Fitzgerald restated an “overweight” rating and set a $39.00 target price on shares of Core Scientific in a research report on Wednesday, October 14th. BTIG Research restated a “buy” rating and issued a $38.00 price target on shares of Core Scientific in a research note on Thursday, October 15th. Finally, Citigroup restated a “market outperform” rating on shares of Core Scientific in a research note on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.36.

Core Scientific Company Profile

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.

Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.