Key Points
- Core Scientific director Eric Weiss purchased 6,000 shares for $97,980, increasing his direct holdings by 2.31% to 265,262 shares. He also bought 7,000 shares in August.
- Core Scientific reported a significant quarterly EPS miss, posting a loss of $3.32 per share versus analysts’ expected loss of $0.06, though revenue of $164.2 million exceeded estimates.
- Analyst sentiment remains broadly positive, with an overall “Buy” rating and an average price target of $31.96, while major institutional investors including BlackRock and Apollo Management have built positions.
Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) Director Eric Weiss acquired 6,000 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average price of $16.33 per share, for a total transaction of $97,980.00. Following the completion of the purchase, the director directly owned 265,262 shares of the company's stock, valued at $4,331,728.46. This trade represents a 2.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Eric Stanton Weiss also recently made the following trade(s):
- On Tuesday, August 18th, Eric Weiss acquired 7,000 shares of Core Scientific stock. The stock was bought at an average price of $19.19 per share, for a total transaction of $134,330.00.
Core Scientific Trading Up 1.5%
Shares of CORZ stock opened at $17.14 on Friday. The firm has a market capitalization of $5.51 billion, a P/E ratio of -3.88 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. The firm's fifty day simple moving average is $19.68 and its 200 day simple moving average is $21.00.
Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($3.26). The business had revenue of $164.20 million for the quarter, compared to analysts' expectations of $144.83 million. Equities research analysts anticipate that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.
Hedge Funds Weigh In On Core Scientific
A number of hedge funds and other institutional investors have recently made changes to their positions in CORZ. BlackRock Inc. bought a new position in Core Scientific during the second quarter worth about $719,649,000. Situational Awareness LP boosted its holdings in Core Scientific by 42.5% during the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company's stock valued at $418,694,000 after purchasing an additional 8,575,944 shares in the last quarter. Apollo Management Holdings L.P. bought a new stake in shares of Core Scientific in the 2nd quarter valued at approximately $115,671,000. Fifth Third Bancorp bought a new stake in shares of Core Scientific in the 1st quarter valued at approximately $59,802,000. Finally, Avala Global LP acquired a new position in shares of Core Scientific in the 2nd quarter worth approximately $101,729,000.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CORZ shares. Freedom Capital upgraded shares of Core Scientific from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Wells Fargo & Company assumed coverage on Core Scientific in a research note on Thursday. They set an "overweight" rating and a $28.00 price target on the stock. Needham & Company LLC upped their price target on Core Scientific from $29.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Lucid Cap Mkts upgraded Core Scientific to a "strong-buy" rating in a research report on Friday, June 12th. Finally, Wolfe Research reissued a "buy" rating on shares of Core Scientific in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $31.96.
Check Out Our Latest Stock Analysis 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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