Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd Duchene sold 10,000 shares of the firm's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $12.45, for a total value of $124,500.00. Following the transaction, the insider owned 1,113,286 shares of the company's stock, valued at approximately $13,860,410.70. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Core Scientific Trading Down 1.3%
Shares of NASDAQ CORZ opened at $14.38 on Friday. Core Scientific, Inc. has a twelve month low of $10.59 and a twelve month high of $30.46. The stock has a fifty day simple moving average of $15.46 and a 200-day simple moving average of $19.39. The stock has a market capitalization of $4.63 billion, a PE ratio of 56.04 and a beta of 5.56.
Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.52. Core Scientific had a negative return on equity of 70.05% and a negative net margin of 18.31%. The firm had revenue of $232.87 million for the quarter, compared to the consensus estimate of $196.54 million. On average, equities analysts predict that Core Scientific, Inc. will post 0.08 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of CORZ. Handelsbanken Fonder AB increased its holdings in Core Scientific by 0.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company's stock worth $2,418,000 after purchasing an additional 700 shares during the period. GAMMA Investing LLC raised its position 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. Parallel Advisors LLC boosted its stake in shares of Core Scientific by 125.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,800 shares of the company's stock valued at $29,000 after buying an additional 1,000 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Core Scientific by 1,371.3% in 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 during the period. Finally, Carronade Capital Management LP boosted its stake in shares of Core Scientific by 1.1% in the 1st quarter. Carronade Capital Management LP now owns 101,103 shares of the company's stock valued at $1,513,000 after buying an additional 1,103 shares during the period.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CORZ. BTIG Research reiterated a "buy" rating and set a $38.00 price target on shares of Core Scientific in a research note on Thursday, October 15th. Zacks Research raised shares of Core Scientific from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Capital One Financial set a $33.00 price objective on shares of Core Scientific in a report on Thursday, July 30th. Citigroup reaffirmed a "market outperform" rating on shares of Core Scientific in a research note on Tuesday. Finally, Freedom Capital raised shares of Core Scientific from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $30.32.
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About Core Scientific
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Core Scientific, Inc. is a U.S.-based digital infrastructure company that operates data centers and provides computing services. Its business includes mining bitcoin, which involves using specialized computers to help process transactions and secure the Bitcoin network, as well as hosting equipment for third-party mining customers. The company also provides data center infrastructure for high-performance computing workloads, including artificial intelligence applications. Its facilities and services are designed to support the power, cooling, and computing needs of these operations.
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