Insider Selling: Core Scientific, Inc. (NASDAQ:CORZ) Insider Sells 25,277 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 25,277 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $410,498.48. Following the completion of the transaction, the insider now owns 2,023,423 shares of the company’s stock, valued at approximately $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Core Scientific Price Performance

Core Scientific stock opened at $11.31 on Wednesday. The stock has a market cap of $3.16 billion and a P/E ratio of -2.09. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The firm’s 50 day moving average price is $15.37 and its 200-day moving average price is $13.03.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $94.80 million. As a group, equities analysts expect that Core Scientific, Inc. will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. ORG Wealth Partners LLC boosted its stake in Core Scientific by 0.3% during the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock worth $126,262,000 after buying an additional 26,649 shares during the period. Parsifal Capital Management LP raised its holdings in shares of Core Scientific by 3.9% in the third quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock valued at $64,196,000 after acquiring an additional 204,314 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Core Scientific by 26.7% in the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after acquiring an additional 1,113,285 shares in the last quarter. State Street Corp raised its holdings in Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock worth $47,522,000 after purchasing an additional 583,493 shares in the last quarter. Finally, Taconic Capital Advisors LP raised its holdings in Core Scientific by 178.7% in the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock worth $32,229,000 after purchasing an additional 1,742,462 shares in the last quarter.

Analysts Set New Price Targets

CORZ has been the subject of several research reports. B. Riley increased their price target on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Compass Point raised their price target on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price objective on shares of Core Scientific in a report on Thursday, October 3rd. Finally, Jefferies Financial Group initiated coverage on shares of Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective on the stock. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $19.07.

Core Scientific Company Profile

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.