Core Scientific (NASDAQ:CORZ) Shares Down 2%

Core Scientific, Inc. (NASDAQ:CORZ) was down 2% on Monday . The stock traded as low as $10.01 and last traded at $10.18. Approximately 2,639,274 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 7,327,422 shares. The stock had previously closed at $10.39.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CORZ shares. Sanford C. Bernstein started coverage on Core Scientific in a report on Wednesday, July 10th. They issued an “outperform” rating and a $17.00 price objective for the company. LADENBURG THALM/SH SH restated a “buy” rating and issued a $14.50 price objective on shares of Core Scientific in a report on Tuesday, July 2nd. HC Wainwright raised their price objective on Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Cantor Fitzgerald started coverage on Core Scientific in a report on Wednesday, July 17th. They issued an “overweight” rating and a $20.00 price objective for the company. Finally, BTIG Research raised their price objective on Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and an average target price of $14.71.

Core Scientific Trading Up 6.4 %

The business has a fifty day moving average of $7.85 and a 200 day moving average of $4.77.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The business had revenue of $179.29 million for the quarter, compared to the consensus estimate of $139.60 million. On average, analysts forecast that Core Scientific, Inc. will post 0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $9.99, for a total transaction of $37,662.30. Following the completion of the sale, the insider now directly owns 393,428 shares in the company, valued at $3,930,345.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $9.99, for a total transaction of $37,662.30. Following the completion of the sale, the insider now directly owns 393,428 shares in the company, valued at $3,930,345.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the sale, the insider now owns 359,877 shares of the company’s stock, valued at $3,379,245.03. The disclosure for this sale can be found here. Company insiders own 32.00% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

Several hedge funds have recently bought and sold shares of the stock. Aspect Partners LLC acquired a new stake in shares of Core Scientific in the first quarter valued at approximately $29,000. Hexagon Capital Partners LLC acquired a new stake in shares of Core Scientific in the first quarter valued at approximately $34,000. Lindbrook Capital LLC acquired a new stake in shares of Core Scientific in the first quarter valued at approximately $65,000. Rise Advisors LLC acquired a new stake in shares of Core Scientific in the second quarter valued at approximately $65,000. Finally, Fiduciary Alliance LLC acquired a new stake in shares of Core Scientific in the first quarter valued at approximately $84,000.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.