Key Points
- Insider Todd Duchene sold 10,000 Core Scientific shares at an average price of $12.78, for proceeds of $127,800. After the sale, he directly owned 1,123,286 shares; the transaction reduced his position by 0.88%.
- Analysts’ average rating is “Moderate Buy,” with an average price target of $31.28. Ratings range from one Sell to two Strong Buys, alongside 16 Buys and two Holds.
- Core Scientific is expanding beyond its historical focus on Bitcoin mining into hosting high-performance computing and AI workloads.
Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd Duchene sold 10,000 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $12.78, for a total transaction of $127,800.00. Following the sale, the insider directly owned 1,123,286 shares in the company, valued at $14,355,595.08. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Core Scientific Price Performance
NASDAQ CORZ opened at $12.76 on Thursday. Core Scientific, Inc. has a 1 year low of $12.31 and a 1 year high of $30.46. The stock has a market capitalization of $4.10 billion, a PE ratio of -2.89 and a beta of 5.56. The company's 50 day simple moving average is $15.92 and its two-hundred day simple moving average is $19.55.
Institutional Investors Weigh In On Core Scientific
Hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its stake in Core Scientific by 125.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,800 shares of the company's stock worth $29,000 after buying an additional 1,000 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Core Scientific by 1,371.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company's stock valued at $30,000 after buying an additional 1,097 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Core Scientific during the 2nd quarter valued at $36,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Core Scientific during the 3rd quarter valued at $42,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Core Scientific during the 2nd quarter worth $47,000.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on CORZ shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Core Scientific in a research report on Thursday, October 15th. Rothschild & Co Redburn began coverage on Core Scientific in a research note on Monday, September 21st. They set a "neutral" rating and a $16.00 price objective for the company. Cantor Fitzgerald restated an "overweight" rating and set a $39.00 target price on shares of Core Scientific in a research report on Wednesday, October 14th. Freedom Capital upgraded Core Scientific from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Finally, B. Riley Financial lowered their price target on Core Scientific from $42.00 to $31.00 and set a "buy" rating on the stock in a report on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $31.28.
View Our Latest Stock Analysis on Core Scientific
About Core Scientific
(
Get Free Report)
Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.
Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.
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