Key Points
- Insider sale: Todd Duchene sold 10,000 shares on April 27 at an average price of $20.94 for $209,400, trimming his stake by 0.50% to 1,990,348 shares, with the trade disclosed on an SEC Form 4.
- Stock and results: Core Scientific opened at $19.56 (market cap ~$6.17B, 52-week range $7.65–$23.63); the company reported Q1 EPS of $0.42 beating estimates while revenue of $79.76M missed forecasts and fell 16% year‑over‑year.
- Market sentiment and ownership: Analyst consensus is a Moderate Buy with an average target of $25.07, and large institutions such as Vanguard and Situational Awareness substantially increased their positions.
Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd Duchene sold 10,000 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $20.94, for a total value of $209,400.00. Following the sale, the insider directly owned 1,990,348 shares in the company, valued at approximately $41,677,887.12. This trade represents a 0.50% 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 Stock Down 2.3%
Core Scientific stock opened at $19.56 on Thursday. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 16.72 and a beta of 6.34. Core Scientific, Inc. has a 52 week low of $7.65 and a 52 week high of $23.63. The business's 50-day moving average price is $17.37 and its 200 day moving average price is $17.42.
Core Scientific (NASDAQ:CORZ - Get Free Report) last posted 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 company had revenue of $79.76 million for the quarter, compared to analyst estimates of $118.45 million. The firm's revenue was down 16.0% on a year-over-year basis. During the same period last year, the business earned ($0.69) earnings per share. Equities analysts expect that Core Scientific, Inc. will post 0.07 EPS for the current year.
Analyst Upgrades and Downgrades
CORZ has been the topic of several analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $25.00 target price on shares of Core Scientific in a report on Tuesday, March 3rd. Cantor Fitzgerald raised their target price on Core Scientific from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. 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 report on Tuesday, March 3rd. Wall Street Zen raised Core Scientific to a "sell" rating in a report on Saturday, March 14th. Finally, Zacks Research raised Core Scientific from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.07.
Read Our Latest Stock Report on Core Scientific
Hedge Funds Weigh In On Core Scientific
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 acquiring an additional 5,359,710 shares in the last quarter. Situational Awareness LP lifted its position in shares of Core Scientific by 42.5% in the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company's stock valued at $418,694,000 after acquiring an additional 8,575,944 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its position in shares of Core Scientific by 11.4% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company's stock valued at $189,842,000 after acquiring an additional 1,338,796 shares in the last quarter. Value Aligned Research Advisors LLC purchased a new position in shares of Core Scientific in the fourth quarter valued at approximately $117,786,000. Finally, Geode Capital Management LLC lifted its position in shares of 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.
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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