Short Interest in Core Scientific, Inc. (NASDAQ:CORZ) Rises By 13.2%

Core Scientific, Inc. (NASDAQ:CORZ) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 44,670,000 shares, a growth of 13.2% from the December 31st total of 39,460,000 shares. Based on an average daily volume of 10,740,000 shares, the short-interest ratio is presently 4.2 days. Currently, 18.5% of the company’s shares are sold short.

Core Scientific Stock Up 0.5 %

Core Scientific stock traded up $0.06 during mid-day trading on Monday, hitting $12.33. The company had a trading volume of 9,436,739 shares, compared to its average volume of 12,817,225. The stock has a market cap of $3.44 billion and a price-to-earnings ratio of -2.28. Core Scientific has a 1 year low of $2.61 and a 1 year high of $18.63. The business has a fifty day moving average of $15.03 and a 200 day moving average of $13.04.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate 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. Equities analysts anticipate that Core Scientific will post 0.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Yadin Rozov sold 105,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total value of $1,901,550.00. Following the sale, the director now directly owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. The trade was a 23.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the transaction, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at $58,789,911.20. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 744,032 shares of company stock valued at $11,863,966 over the last ninety days. Company insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. ORG Wealth Partners LLC acquired a new stake in shares of Core Scientific during the third quarter worth $106,266,000. Rush Island Management LP acquired a new stake in shares of Core Scientific in the 3rd quarter worth $32,221,000. Taconic Capital Advisors LP boosted its holdings in shares of Core Scientific by 178.7% in the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after acquiring an additional 1,742,462 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Core Scientific during the third quarter worth about $18,383,000. Finally, Geode Capital Management LLC raised its holdings in Core Scientific by 26.7% during the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after purchasing an additional 1,113,285 shares in the last quarter.

Wall Street Analysts Forecast Growth

CORZ has been the subject of several recent research reports. Jefferies Financial Group started coverage on shares of Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective for the company. Macquarie raised their price target on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Craig Hallum started coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price target for the company. B. Riley increased their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Core Scientific has a consensus 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.