Core Scientific, Inc. (NASDAQ:CORZ – Get Free Report) insider Todd Duchene sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $15.12, for a total value of $151,200.00. Following the sale, the insider directly owned 1,159,668 shares of the company’s stock, valued at $17,534,180.16. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Core Scientific Stock Performance
Shares of Core Scientific stock traded down $0.97 on Friday, hitting $13.48. The company had a trading volume of 22,279,762 shares, compared to its average volume of 13,275,390. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of -3.05 and a beta of 5.49. Core Scientific, Inc. has a 1 year low of $12.31 and a 1 year high of $30.46. The stock has a 50 day moving average of $17.30 and a 200-day moving average of $20.99.
Core Scientific (NASDAQ:CORZ – Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The company had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. Equities analysts anticipate that Core Scientific, Inc. will post -1.36 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have commented on CORZ shares. Wolfe Research reaffirmed a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. Needham & Company LLC increased their target price 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. Compass Point reaffirmed a “buy” rating and issued a $36.00 price target on shares of Core Scientific in a report on Wednesday, July 29th. UBS Group reiterated a “market outperform” rating on shares of Core Scientific in a research note on Wednesday. Finally, Capital One Financial set a $33.00 price objective on Core Scientific in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.36.
Get Our Latest Research Report on CORZ
Key Headlines Impacting Core Scientific
Here are the key news stories impacting Core Scientific this week:
- Positive Sentiment: Analyst support remains strong. Cantor Fitzgerald reaffirmed its “Overweight” rating, while Canaccord Genuity and BTIG Research reiterated “Buy” ratings with price targets of $36 and $38, respectively. The broader analyst consensus remains “Moderate Buy,” with an average target of $31.36. Cantor Fitzgerald Reaffirms Overweight Rating for Core Scientific
- Positive Sentiment: Core Scientific’s scheduled third-quarter earnings release on November 5 gives investors a near-term catalyst. Results and management commentary should provide updates on its high-density colocation and artificial-intelligence data-center expansion. Core Scientific Schedules Third Quarter Earnings Release
- Neutral Sentiment: A recent rebound occurred on above-average volume, but Zacks cautioned that current earnings-estimate revisions may not support additional near-term gains. This suggests momentum traders may remain cautious despite the strong analyst targets. Strength Seen in Core Scientific
- Negative Sentiment: Investor risk appetite has weakened for leveraged AI-data-center developers, pressuring Core Scientific alongside Applied Digital and TeraWulf. Concerns about financing costs, valuation, and tenant credit quality—including pressure facing customer CoreWeave—could weigh on the shares. Rotation Out of Debt-Funded AI Builders
- Negative Sentiment: Insider Todd Duchene sold 10,000 shares for approximately $151,200, reducing his position by 0.85%. While the remaining stake is substantial, the transaction adds a modest negative signal. Core Scientific Insider Selling
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Core Scientific during the second quarter worth approximately $719,649,000. Jericho Capital Asset Management L.P. lifted its holdings in Core Scientific by 11.4% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock worth $189,842,000 after buying an additional 1,338,796 shares during the period. Apollo Management Holdings L.P. bought a new stake in Core Scientific in the second quarter valued at $115,671,000. Avala Global LP bought a new position in Core Scientific in the 2nd quarter worth $101,729,000. Finally, Bank of America Corp DE purchased a new stake in shares of Core Scientific in the 2nd quarter worth about $93,668,000.
About Core Scientific
Core Scientific, Inc is a digital infrastructure company that develops and operates data centers in the United States. Its business has historically centered on cryptocurrency mining, particularly the processing of transactions on the Bitcoin network, while also providing hosting and infrastructure services to other mining and technology customers.
The company is expanding its data center capabilities to support high-performance computing and artificial intelligence workloads. Its services include data center operations, power and equipment management, hosting, and related infrastructure support for customers that require substantial computing capacity.
Core Scientific was founded in 2017 and became a publicly traded company through a business combination in 2022.
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