Key Points
- Insider Todd Duchene sold 10,000 shares on April 6 at an average price of $16.49 (≈$164,900) under a pre-arranged Rule 10b5-1 plan, reducing his stake to 2,037,089 shares (down ~0.49%).
- Core Scientific reported quarterly EPS of $0.42, beating the consensus of -$0.27, but revenue missed at $79.76M versus $118.45M (down 16% YoY); the stock has a market cap of $5.57B, P/E 15.09 and a 52-week range of $6.20–$23.63.
- Analysts hold a consensus "Moderate Buy" with a $24.84 price target, and institutional investors including AQR and UBS recently increased their positions.
Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd Duchene sold 10,000 shares of Core Scientific stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $16.49, for a total value of $164,900.00. Following the completion of the sale, the insider directly owned 2,037,089 shares in the company, valued at $33,591,597.61. This represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Core Scientific Price Performance
CORZ opened at $17.66 on Thursday. The business's 50-day moving average price is $16.70 and its two-hundred day moving average price is $17.19. Core Scientific, Inc. has a 1 year low of $6.20 and a 1 year high of $23.63. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 15.09 and a beta of 6.34.
Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The firm had revenue of $79.76 million during the quarter, compared to analyst estimates of $118.45 million. During the same period in the prior year, the business earned ($0.69) EPS. The business's revenue for the quarter was down 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Core Scientific
A number of hedge funds and other institutional investors have recently bought and sold shares of CORZ. AQR Capital Management LLC grew its holdings in Core Scientific by 106.1% during the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company's stock worth $2,052,000 after purchasing an additional 145,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Core Scientific by 180.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company's stock worth $8,032,000 after purchasing an additional 714,388 shares during the period. Cetera Investment Advisers grew its holdings in Core Scientific by 200.0% during the second quarter. Cetera Investment Advisers now owns 38,819 shares of the company's stock worth $663,000 after purchasing an additional 25,878 shares during the period. Franklin Resources Inc. bought a new position in Core Scientific during the second quarter worth about $181,000. Finally, Russell Investments Group Ltd. grew its holdings in Core Scientific by 61.9% during the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company's stock worth $67,000 after purchasing an additional 1,507 shares during the period.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Wall Street Zen raised Core Scientific to a "sell" rating in a research report on Saturday, March 14th. LADENBURG THALM/SH SH lowered their target price on Core Scientific from $24.50 to $23.75 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Cantor Fitzgerald lowered their target price on Core Scientific from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 3rd. BTIG Research raised Core Scientific from a "neutral" rating to a "buy" rating and set a $23.00 target price on the stock in a research report on Tuesday, January 6th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $25.00 target price on shares of Core Scientific in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Core Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.84.
Check Out Our Latest Research Report on Core Scientific
About Core Scientific
(
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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