Eric Stanton Weiss Buys 7,000 Shares of Core Scientific (NASDAQ:CORZ) Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Eric Stanton Weiss purchased 7,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average cost of $19.19 per share, with a total value of $134,330.00. Following the completion of the acquisition, the director owned 259,262 shares in the company, valued at approximately $4,975,237.78. This represents a 2.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Core Scientific Price Performance

Core Scientific stock opened at $17.81 on Friday. Core Scientific, Inc. has a 12-month low of $13.14 and a 12-month high of $30.46. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of -4.03 and a beta of 5.59. The firm’s fifty day moving average price is $22.97 and its 200 day moving average price is $20.99.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The business had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $144.83 million. Analysts forecast that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CORZ has been the subject of a number of analyst reports. Lucid Cap Mkts raised Core Scientific to a “strong-buy” rating in a report on Friday, June 12th. Wolfe Research restated a “buy” rating on shares of Core Scientific in a report on Wednesday, July 29th. Jefferies Financial Group upped their target price on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. BTIG Research reiterated a “buy” rating and set a $38.00 target price on shares of Core Scientific in a research note on Tuesday, July 28th. Finally, B. Riley Financial increased their target price on Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Core Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $32.18.

Institutional Investors Weigh In On Core Scientific

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Core Scientific by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock worth $494,462,000 after purchasing an additional 5,359,710 shares in the last quarter. Situational Awareness LP raised its stake in Core Scientific by 42.5% during the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after buying an additional 8,575,944 shares in the last quarter. BlackRock Inc. acquired a new stake in Core Scientific during the second quarter valued at approximately $719,649,000. Jericho Capital Asset Management L.P. lifted its holdings in Core Scientific by 11.4% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock worth $189,842,000 after buying an additional 1,338,796 shares during the last quarter. Finally, Value Aligned Research Advisors LLC acquired a new position in shares of Core Scientific in the 4th quarter worth approximately $117,786,000.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.