Core Scientific (NASDAQ:CORZ) Director Eric Stanton Weiss Buys 6,000 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Eric Weiss purchased 6,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $16.33 per share, for a total transaction of $97,980.00. Following the completion of the transaction, the director directly owned 265,262 shares in the company, valued at $4,331,728.46. This represents a 2.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eric Stanton Weiss also recently made the following trade(s):

• On Tuesday, August 18th, Eric Weiss purchased 7,000 shares of Core Scientific stock. The shares were purchased at an average price of $19.19 per share, for a total transaction of $134,330.00.

Core Scientific Stock Up 1.5%

NASDAQ:CORZ opened at $17.14 on Friday. The business’s 50-day moving average price is $19.68 and its 200 day moving average price is $21.00. Core Scientific, Inc. has a 52-week low of $13.35 and a 52-week high of $30.46. The firm has a market cap of $5.51 billion, a P/E ratio of -3.88 and a beta of 5.48.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The firm had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. Sell-side analysts expect that Core Scientific, Inc. will post -1.36 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on CORZ shares. BTIG Research restated a “buy” rating and issued a $38.00 price target on shares of Core Scientific in a research report on Tuesday, July 28th. Sanford C. Bernstein reiterated an “outperform” rating and set a $32.00 price objective on shares of Core Scientific in a research report on Wednesday, June 3rd. Capital One Financial set a $33.00 price objective on Core Scientific in a research note on Thursday, July 30th. Canaccord Genuity Group lifted their target price on Core Scientific from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Compass Point reaffirmed a “buy” rating and set a $36.00 price objective on shares of Core Scientific in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $31.96.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in CORZ. Engineers Gate Manager LP acquired a new stake in shares of Core Scientific during the 2nd quarter valued at about $1,671,000. Squarepoint Ops LLC increased its holdings in Core Scientific by 64.1% in the second quarter. Squarepoint Ops LLC now owns 2,686,177 shares of the company’s stock worth $68,739,000 after buying an additional 1,049,678 shares during the last quarter. Arizona State Retirement System raised its position in Core Scientific by 2.3% during the second quarter. Arizona State Retirement System now owns 69,666 shares of the company’s stock valued at $1,783,000 after acquiring an additional 1,533 shares in the last quarter. Nykredit A S acquired a new stake in Core Scientific in the second quarter valued at approximately $263,000. Finally, Parkside Financial Bank & Trust lifted its stake in Core Scientific by 1,371.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company’s stock valued at $30,000 after acquiring an additional 1,097 shares during the last quarter.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a digital infrastructure company that develops and operates data centers for high-performance computing. Its business has historically centered on large-scale bitcoin mining, including the deployment and operation of specialized computing equipment and supporting power, networking and facility infrastructure.

The company also provides hosting and colocation services for digital asset miners and other high-performance computing customers. Core Scientific has increasingly focused on expanding its data center platform for artificial intelligence and other compute-intensive workloads, including infrastructure designed to support graphics processing unit (GPU) deployments.

Founded in 2017, Core Scientific operates data center facilities in the United States and emerged from Chapter 11 bankruptcy protection in January 2024.