Core Scientific (NASDAQ:CORZ) Insider Sells 10,000 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZGet Free Report) insider Todd Duchene sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $18.37, for a total value of $183,700.00. Following the transaction, the insider directly owned 1,197,896 shares in the company, valued at $22,005,349.52. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Core Scientific Stock Performance

Shares of Core Scientific stock traded down $0.69 during midday trading on Wednesday, reaching $18.10. 9,100,115 shares of the company’s stock traded hands, compared to its average volume of 12,597,033. The stock has a 50 day moving average of $19.42 and a 200-day moving average of $21.05. Core Scientific, Inc. has a 12 month low of $13.35 and a 12 month high of $30.46. The company has a market cap of $5.82 billion, a PE ratio of -4.10 and a beta of 5.48.

Core Scientific (NASDAQ:CORZGet Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) 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 analyst estimates of $144.83 million. On average, equities analysts anticipate that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Larson Financial Group LLC raised its holdings in Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after acquiring an additional 1,686 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in 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 purchasing an additional 1,097 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Core Scientific during the second quarter valued at $36,000. Rakuten Securities Inc. bought a new stake in shares of Core Scientific in the second quarter worth approximately $47,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Core Scientific by 41.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,396 shares of the company’s stock valued at $66,000 after purchasing an additional 1,285 shares during the last quarter.

Wall Street Analyst Weigh In

CORZ has been the topic of several research analyst reports. Wells Fargo & Company started coverage on shares of Core Scientific in a research report on Thursday, September 17th. They set an “overweight” rating and a $28.00 price target on the stock. UBS Group began coverage on Core Scientific in a research report on Wednesday. They set a “buy” rating and a $24.00 price objective on the stock. Capital One Financial set a $33.00 target price on Core Scientific in a report on Thursday, July 30th. Needham & Company LLC raised their target price on Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Wolfe Research restated a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Core Scientific has an average rating of “Moderate Buy” and a consensus target price of $30.86.

Get Our Latest Stock Report on CORZ

Core Scientific Company Profile

(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.

Further Reading

Insider Buying and Selling by Quarter for Core Scientific (NASDAQ:CORZ)

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