Key Points
- Todd Duchene sold 10,000 Core Scientific shares on April 1 at an average price of $15.25 for $152,500 under a pre-arranged Rule 10b5-1 plan, trimming his stake by 0.49% to 2,047,089 shares.
- Core Scientific reported quarterly EPS of $0.42 (well above the -$0.27 consensus) but revenue missed at $79.76 million versus $118.45 million, a 16% year-over-year decline.
- The stock trades in a 52-week range of $6.20–$23.63 with a $5.12 billion market cap, and analysts hold a consensus “Moderate Buy” rating with an average target of $24.84 while large institutions like AQR and UBS have recently increased holdings.
Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd Duchene sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $15.25, for a total value of $152,500.00. Following the completion of the sale, the insider owned 2,047,089 shares of the company's stock, valued at $31,218,107.25. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Core Scientific Stock Performance
NASDAQ:CORZ opened at $16.23 on Friday. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $23.63. The firm has a market cap of $5.12 billion, a PE ratio of 13.87 and a beta of 6.34. The business has a 50 day moving average price of $16.90 and a 200-day moving average price of $17.18.
Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $79.76 million during the quarter, compared to analysts' expectations of $118.45 million. During the same period in the previous year, the firm earned ($0.69) earnings per share. The firm's quarterly revenue was down 16.0% compared to the same quarter last year. Research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.
Institutional Investors Weigh In On Core Scientific
A number of large investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of Core Scientific by 106.1% during the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company's stock valued at $2,052,000 after buying an additional 145,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Core Scientific by 180.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company's stock valued at $8,032,000 after acquiring an additional 714,388 shares in the last quarter. Cetera Investment Advisers boosted its position in Core Scientific by 200.0% during the 2nd quarter. Cetera Investment Advisers now owns 38,819 shares of the company's stock valued at $663,000 after acquiring an additional 25,878 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Core Scientific by 18.5% during the 2nd quarter. Legal & General Group Plc now owns 261,203 shares of the company's stock worth $4,459,000 after acquiring an additional 40,774 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of Core Scientific during the 2nd quarter worth approximately $181,000.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on CORZ shares. Zacks Research raised shares of Core Scientific from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 13th. Citigroup raised Core Scientific from a "market perform" rating to an "outperform" rating in a research note on Thursday, December 18th. Citizens Jmp raised Core Scientific from a "market perform" rating to an "outperform" rating and set a $30.00 price target for the company in a research report on Thursday, December 18th. BTIG Research upgraded Core Scientific from a "neutral" rating to a "buy" rating and set a $23.00 price objective for the company in a report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on Core Scientific from $19.00 to $25.00 and gave the stock a "moderate buy" rating in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.84.
View Our Latest Report on CORZ
Core Scientific Company Profile
(
Get Free Report)
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.
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