Core Scientific, Inc. (NASDAQ:CORZ) CEO Sells 369,712 Shares

Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan sold 369,712 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the transaction, the chief executive officer now owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. This trade represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Adam Taylor Sullivan also recently made the following trade(s):

• On Thursday, January 2nd, Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20.

Core Scientific Stock Up 1.3 %

CORZ stock opened at $11.46 on Thursday. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.63. The company’s 50-day simple moving average is $15.25 and its 200-day simple moving average is $13.02. The firm has a market cap of $3.20 billion and a P/E ratio of -2.12.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $95.35 million during the quarter, compared to the consensus estimate of $94.80 million. On average, analysts anticipate that Core Scientific, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Roth Mkm initiated coverage on Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 target price for the company. Compass Point lifted their target price on Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. B. Riley upped their target price on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price target for the company. Finally, Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $19.07.

Hedge Funds Weigh In On Core Scientific

Large investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of Core Scientific in the fourth quarter valued at about $42,000. Sunbelt Securities Inc. acquired a new stake in Core Scientific in the 2nd quarter worth about $33,000. Rise Advisors LLC increased its stake in Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after buying an additional 1,000 shares in the last quarter. KBC Group NV acquired a new position in shares of Core Scientific during the fourth quarter valued at approximately $114,000. Finally, Duncan Williams Asset Management LLC purchased a new position in shares of Core Scientific in the fourth quarter valued at approximately $141,000.

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.