Key Points
- Core Scientific insider Todd Duchene sold 10,000 shares at an average price of $18.67, generating $186,700. He retained 1,217,896 shares after the transaction.
- CORZ shares opened at $17.37, versus a 52-week range of $13.35 to $30.46. The company reported a quarterly loss of $3.32 per share, missing estimates by $3.26, despite revenue exceeding expectations.
- Analysts remain broadly optimistic, with a consensus rating of “Moderate Buy” and an average price target of $32.18, well above the reported share price.
Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd Duchene sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $18.67, for a total value of $186,700.00. Following the completion of the transaction, the insider directly owned 1,217,896 shares of the company's stock, valued at $22,738,118.32. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Core Scientific Stock Performance
Shares of CORZ stock opened at $17.37 on Friday. The stock has a fifty day moving average price of $20.24 and a 200 day moving average price of $21.02. The stock has a market cap of $5.58 billion, a PE ratio of -3.93 and a beta of 5.48. Core Scientific, Inc. has a 1 year low of $13.35 and a 1 year high of $30.46.
Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its 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 business had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. As a group, equities research analysts predict that Core Scientific, Inc. will post -1.36 earnings per share for the current year.
Institutional Trading of Core Scientific
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Xponance LLC increased its position in Core Scientific by 2.5% during the 4th quarter. Xponance LLC now owns 22,896 shares of the company's stock worth $333,000 after purchasing an additional 562 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Core Scientific by 0.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company's stock valued at $2,418,000 after purchasing an additional 700 shares during the last quarter. Orion Porfolio Solutions LLC lifted its holdings in Core Scientific by 5.2% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company's stock valued at $279,000 after purchasing an additional 766 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Core Scientific by 34.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,049 shares of the company's stock valued at $78,000 after purchasing an additional 782 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Core Scientific by 4.2% during the 4th quarter. Bank of Montreal Can now owns 21,592 shares of the company's stock worth $314,000 after purchasing an additional 869 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on CORZ shares. Compass Point reiterated a "buy" rating and issued a $36.00 price objective on shares of Core Scientific in a research report on Wednesday, July 29th. Capital One Financial set a $33.00 target price on shares of Core Scientific in a report on Thursday, July 30th. Sanford C. Bernstein restated an "outperform" rating and set a $32.00 target price on shares of Core Scientific in a research report on Wednesday, June 3rd. Lucid Cap Mkts raised shares of Core Scientific to a "strong-buy" rating in a report on Friday, June 12th. Finally, Needham & Company LLC increased their price target on shares of Core Scientific from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.18.
Check Out Our Latest Stock Report on CORZ
About Core Scientific
(
Get Free Report)
Core Scientific, Inc (NASDAQ: CORZ) is a digital infrastructure company that develops and operates data centers for high-performance computing. Its business has historically centered on large-scale bitcoin mining, including the deployment and operation of specialized computing equipment and supporting power, networking and facility infrastructure.
The company also provides hosting and colocation services for digital asset miners and other high-performance computing customers. Core Scientific has increasingly focused on expanding its data center platform for artificial intelligence and other compute-intensive workloads, including infrastructure designed to support graphics processing unit (GPU) deployments.
Founded in 2017, Core Scientific operates data center facilities in the United States and emerged from Chapter 11 bankruptcy protection in January 2024.
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