Key Points
- Todd Duchene, a Core Scientific insider, sold 10,000 shares at an average price of $19.80 on April 20 for ~$198,000, trimming his stake by 0.50% to 2,000,348 shares (approx. $39.6M).
- Core Scientific announced a proposed private offering of $3.3 billion of senior secured notes (due 2031) plus an expanded $1B strategic facility to fund AI/data‑center expansion and refinance obligations, a move that materially reduces near‑term liquidity risk.
- Analyst and institutional support is building—Cantor Fitzgerald raised its price target to $29 and multiple firms upgraded ratings, while large investors like Vanguard significantly increased positions; MarketBeat shows a consensus "Moderate Buy" with an average target around $25.07.
Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd Duchene sold 10,000 shares of the company's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $19.80, for a total transaction of $198,000.00. Following the transaction, the insider directly owned 2,000,348 shares of the company's stock, valued at approximately $39,606,890.40. This represents a 0.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Core Scientific Price Performance
Shares of CORZ stock opened at $21.19 on Thursday. The firm's 50-day simple moving average is $17.07 and its 200-day simple moving average is $17.33. Core Scientific, Inc. has a 1-year low of $7.05 and a 1-year high of $23.63. The firm has a market cap of $6.69 billion, a P/E ratio of 18.11 and a beta of 6.34.
Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly 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 company had revenue of $79.76 million for the quarter, compared to analyst estimates of $118.45 million. The business's revenue for the quarter was down 16.0% on a year-over-year basis. During the same period last year, the company posted ($0.69) EPS. Analysts expect that Core Scientific, Inc. will post 0.07 earnings per share for the current fiscal year.
Core Scientific News Summary
Here are the key news stories impacting Core Scientific this week:
Institutional Investors Weigh In On Core Scientific
Several institutional investors and hedge funds have recently modified their holdings of CORZ. Vanguard Group Inc. grew 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 in the last quarter. Situational Awareness LP lifted its position in Core Scientific by 42.5% during the 4th quarter. Situational Awareness LP now owns 28,756,478 shares of the company's stock worth $418,694,000 after acquiring an additional 8,575,944 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in Core Scientific by 11.4% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company's stock worth $189,842,000 after acquiring an additional 1,338,796 shares during the period. Value Aligned Research Advisors LLC purchased a new position in Core Scientific in the 4th quarter worth approximately $117,786,000. Finally, Geode Capital Management LLC grew its position in 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 acquiring an additional 109,145 shares in the last quarter.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. 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. Needham & Company LLC raised Core Scientific from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Core Scientific in a report on Monday. Wall Street Zen upgraded shares of Core Scientific to a "sell" rating in a report on Saturday, March 14th. Finally, LADENBURG THALM/SH SH reduced their price target on shares of Core Scientific from $24.50 to $23.75 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. One 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.07.
Get Our Latest Research 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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