Key Points
- Todd Duchene sold 10,000 shares on May 4 at an average price of $20.86 for $208,600, trimming his position by 0.5% to 1,980,348 shares (≈$41.31M).
- Core Scientific reported a sharp Q1 EPS miss of ($1.06) versus ($0.02) expected while revenue rose 44.9% YoY to $115.24M but slightly missed estimates, triggering a post‑earnings pullback.
- The company is accelerating its AI colocation pivot via a $421M Polaris DS acquisition (adds ~440 MW) and plans to scale Muskogee to ~1.5 GW, backed by a $3.3B capital raise to fund expansion.
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 Monday, May 4th. The shares were sold at an average price of $20.86, for a total value of $208,600.00. Following the completion of the sale, the insider owned 1,980,348 shares in the company, valued at $41,310,059.28. The trade was a 0.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Core Scientific Stock Performance
NASDAQ CORZ opened at $24.63 on Thursday. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 21.05 and a beta of 5.45. The stock's 50 day moving average price is $17.66 and its two-hundred day moving average price is $17.47. Core Scientific, Inc. has a 52 week low of $8.74 and a 52 week high of $25.01.
Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The business had revenue of $115.24 million during the quarter, compared to analysts' expectations of $117.04 million. The business's quarterly revenue was up 44.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. On average, equities research analysts forecast that Core Scientific, Inc. will post 0.07 EPS for the current year.
Key Headlines Impacting Core Scientific
Here are the key news stories impacting Core Scientific this week:
- Positive Sentiment: Announced acquisition of Polaris DS (~$421M) and a plan to scale the Muskogee, OK campus to ~1.5 GW of gross power, which materially expands power capacity and accelerates AI/HPC colocation growth. BusinessWire: Muskogee Expansion
- Positive Sentiment: Company disclosed a ~$421M deal for Polaris DS assets (adds ~440 MW contracted gross power adjacent to Muskogee) that supports faster delivery of leasable capacity to high‑density customers. This deal helped earlier intraday upside. Quiver Quant: Polaris DS acquisition
- Positive Sentiment: Company announced a large $3.3B capital raise to expand AI colocation capacity — provides capital runway to execute expansion plans (but details of terms matter for dilution). TipRanks: $3.3B raise
- Neutral Sentiment: Q1 revenue grew ~45% YoY to $115.24M but narrowly missed consensus (~$117M) — solid top‑line growth supports the growth story even as near‑term margins disrupted by buildout and financing. Press Release / Slide Deck
- Neutral Sentiment: Heavy options activity (large call buying) ahead of and around the announcements — suggests speculative bullish interest that can amplify moves but also increases volatility. MarketBeat: Options note
- Neutral Sentiment: Earnings call transcript and presentation released for Q1 — useful for detail on timing of deliveries, contract backlog and capital plan. Seeking Alpha: Q1 transcript Seeking Alpha: Presentation
- Negative Sentiment: Q1 EPS missed badly — company reported a deficit (widely cited as ($1.06) per MarketBeat/press release) well below analyst expectations, prompting the post‑earnings pullback. Benzinga: EPS miss
- Negative Sentiment: Insider selling: Todd M. Duchene sold 10,000 shares on May 4 — small in the context of his holdings but noted by markets and often viewed as a negative signal. SEC Form 4
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Allworth Financial LP increased its holdings in shares of Core Scientific by 206.5% during the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company's stock worth $25,000 after acquiring an additional 950 shares during the last quarter. Larson Financial Group LLC grew its holdings in Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company's stock valued at $27,000 after buying an additional 1,686 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company's stock valued at $34,000 after buying an additional 1,066 shares in the last quarter. Danske Bank A S acquired a new position in Core Scientific in the 4th quarter valued at $36,000. Finally, State of Wyoming acquired a new position in Core Scientific in the 4th quarter valued at $66,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Core Scientific to a "sell" rating in a research note on Saturday, March 14th. HC Wainwright reiterated a "buy" rating and set a $25.00 price objective on shares of Core Scientific in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Core Scientific in a research note on Monday, April 20th. Needham & Company LLC upped their price objective on Core Scientific from $23.00 to $29.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Cantor Fitzgerald upped their price objective on Core Scientific from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. 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 stock. According to MarketBeat, Core Scientific presently has a consensus rating of "Moderate Buy" and an average price target of $25.43.
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About Core Scientific
(
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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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