Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) Director Eric Stanton Weiss bought 7,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were acquired at an average cost of $19.19 per share, with a total value of $134,330.00. Following the purchase, the director directly owned 259,262 shares of the company's stock, valued at approximately $4,975,237.78. This represents a 2.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Core Scientific Stock Performance
CORZ stock opened at $18.39 on Friday. The firm has a 50 day moving average price of $23.17 and a 200-day moving average price of $21.01. Core Scientific, Inc. has a 52-week low of $13.14 and a 52-week high of $30.46. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of -4.16 and a beta of 5.59.
Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The company had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. As a group, sell-side analysts forecast that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on CORZ shares. Jefferies Financial Group increased their target price on Core Scientific from $24.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. B. Riley Financial lifted their price target on Core Scientific from $33.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Sanford C. Bernstein reiterated an "outperform" rating and issued a $32.00 price target on shares of Core Scientific in a research note on Wednesday, June 3rd. Lucid Cap Mkts raised shares of Core Scientific to a "strong-buy" rating in a research report on Friday, June 12th. Finally, Keefe, Bruyette & Woods upgraded shares of Core Scientific from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $25.00 to $28.00 in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $32.18.
Check Out Our Latest Stock Analysis on Core Scientific
Hedge Funds Weigh In On Core Scientific
A number of hedge funds have recently bought and sold shares of the business. Apollo Management Holdings L.P. purchased a new stake in Core Scientific during the 2nd quarter valued at $115,671,000. Two Sigma Securities LLC purchased a new stake in Core Scientific in the second quarter worth about $235,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Core Scientific by 2.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 415,569 shares of the company's stock valued at $10,634,000 after buying an additional 9,935 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Core Scientific by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 1,728,660 shares of the company's stock valued at $44,236,000 after buying an additional 72,729 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Core Scientific by 45.0% during the 2nd quarter. Wellington Management Group LLP now owns 1,123,721 shares of the company's stock valued at $28,756,000 after acquiring an additional 348,645 shares during the period.
Core Scientific Company Profile
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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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