Core Scientific, Inc. (NASDAQ:CORZ) Insider Sells $1,849,220.64 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,849,220.64. Following the completion of the sale, the insider now directly owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. This represents a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Core Scientific Trading Up 6.2 %

NASDAQ:CORZ traded up $0.90 during trading hours on Friday, reaching $15.38. The company had a trading volume of 12,175,691 shares, compared to its average volume of 10,007,646. The firm has a market cap of $4.29 billion and a price-to-earnings ratio of -2.84. The firm’s 50 day moving average price is $15.60 and its 200-day moving average price is $12.42. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63.

Wall Street Analysts Forecast Growth

CORZ has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a report on Thursday, October 3rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, September 10th. HC Wainwright raised their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Roth Mkm assumed coverage on shares of Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 target price on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price target on shares of Core Scientific in a report on Thursday, November 7th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Core Scientific has an average rating of “Buy” and an average price target of $18.46.

Institutional Trading of Core Scientific

Several large investors have recently modified their holdings of CORZ. Banque Cantonale Vaudoise purchased a new position in Core Scientific in the second quarter worth about $28,000. Sunbelt Securities Inc. bought a new stake in Core Scientific during the second quarter valued at approximately $33,000. Divisadero Street Capital Management LP purchased a new stake in Core Scientific during the second quarter valued at approximately $93,000. Rise Advisors LLC increased its holdings in Core Scientific by 14.3% during the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after buying an additional 1,000 shares during the last quarter. Finally, Xponance Inc. bought a new position in Core Scientific in the second quarter worth approximately $104,000.

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.