Key Points
- Insider sale: Core Scientific insider Todd Duchene sold 10,000 shares on June 15 at an average price of $28.19, totaling about $281,900. After the sale, he still directly owned 2,058,895 shares.
- Stock performance: Shares of Core Scientific were up 1.1% and opened at $28.38, near the stock’s 52-week high of $30.46. The company now has a market cap of about $9.02 billion.
- Analyst outlook: Wall Street sentiment remains generally positive, with a consensus rating of Moderate Buy and an average price target of $29.49. Recent firms such as Sanford C. Bernstein, Needham, Cantor Fitzgerald, and Loop Capital have reiterated or raised bullish targets.
Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd Duchene sold 10,000 shares of Core Scientific stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.19, for a total transaction of $281,900.00. Following the completion of the sale, the insider directly owned 2,058,895 shares in the company, valued at $58,040,250.05. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Core Scientific Trading Up 1.1%
NASDAQ:CORZ opened at $28.38 on Thursday. The stock has a market capitalization of $9.02 billion, a PE ratio of -24.89 and a beta of 5.49. The firm's 50 day moving average is $23.49 and its 200 day moving average is $19.10. Core Scientific, Inc. has a 12 month low of $10.93 and a 12 month high of $30.46.
Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($1.04). The company had revenue of $115.24 million for the quarter, compared to the consensus estimate of $117.04 million. The company's revenue for the quarter was up 44.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. Research analysts predict that Core Scientific, Inc. will post 0.08 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Allworth Financial LP grew its stake in Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company's stock valued at $25,000 after buying an additional 950 shares in the last quarter. Larson Financial Group LLC grew its stake 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 stake 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 purchased a new position in Core Scientific in the 4th quarter valued at approximately $36,000. Finally, Russell Investments Group Ltd. grew its stake in Core Scientific by 61.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company's stock valued at $67,000 after buying an additional 1,507 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CORZ. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $32.00 price target on shares of Core Scientific in a report on Wednesday, June 3rd. Needham & Company LLC lifted their price target on shares of Core Scientific from $23.00 to $29.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Cantor Fitzgerald lifted their price target on shares of Core Scientific from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Loop Capital set a $40.00 price target on shares of Core Scientific in a report on Friday, June 12th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price target on shares of Core Scientific in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Core Scientific presently has a consensus rating of "Moderate Buy" and an average target price of $29.49.
Get Our Latest Stock Analysis on Core Scientific
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
