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, June 8th. The stock was sold at an average price of $26.85, for a total transaction of $268,500.00. Following the sale, the insider directly owned 2,068,895 shares in the company, valued at $55,549,830.75. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Core Scientific Stock Performance
Core Scientific stock traded down $1.32 during midday trading on Wednesday, reaching $25.69. 11,922,921 shares of the stock were exchanged, compared to its average volume of 12,916,471. The company’s fifty day moving average is $22.04 and its 200-day moving average is $18.60. The firm has a market cap of $8.17 billion, a PE ratio of -22.54 and a beta of 5.49. Core Scientific, Inc. has a 52 week low of $10.93 and a 52 week high of $30.46.
Core Scientific (NASDAQ:CORZ – Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The company had revenue of $115.24 million for the quarter, compared to analyst estimates of $117.04 million. The company’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, sell-side analysts anticipate that Core Scientific, Inc. will post 0.08 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Core Scientific
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on CORZ. Jefferies Financial Group increased their price target on shares of Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Needham & Company LLC upped their price objective on shares of Core Scientific from $23.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Core Scientific in a research note on Wednesday, June 3rd. B. Riley Financial upped their price objective on shares of Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, LADENBURG THALM/SH SH cut their price objective on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $28.83.
View Our Latest Stock Report on Core Scientific
About Core Scientific
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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