Insider Selling: Core Scientific, Inc. (NASDAQ:CORZ) Insider Sells 11,582 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the transaction, the insider now owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. The sale was disclosed in a filing with the SEC, which is available at this link.

Core Scientific Stock Up 3.9 %

CORZ stock opened at $10.54 on Thursday. The business has a 50 day moving average of $9.81 and a 200 day moving average of $5.98. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $12.25.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The firm had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $128.58 million. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts expect that Core Scientific, Inc. will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CORZ. Barings LLC purchased a new stake in shares of Core Scientific during the first quarter valued at approximately $36,515,000. Vanguard Group Inc. bought a new position in Core Scientific in the 1st quarter valued at approximately $21,973,000. Kensico Capital Management Corp purchased a new stake in Core Scientific during the 1st quarter valued at $18,513,000. Van ECK Associates Corp purchased a new stake in Core Scientific during the 2nd quarter valued at $12,239,000. Finally, Vident Advisory LLC bought a new stake in shares of Core Scientific in the 1st quarter worth $4,047,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CORZ. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a research note on Thursday, August 8th. LADENBURG THALM/SH SH restated a “buy” rating and issued a $14.50 target price on shares of Core Scientific in a research note on Tuesday, July 2nd. B. Riley upgraded Core Scientific from a “neutral” rating to a “buy” rating and lifted their price target for the company from $0.50 to $13.00 in a research report on Wednesday, July 17th. HC Wainwright increased their price objective on Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. 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 research report on Wednesday, June 26th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $14.71.

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.