Core Scientific (NASDAQ:CORZ) Insider Todd Duchene Sells 10,000 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.63, for a total value of $226,300.00. Following the sale, the insider directly owned 2,023,426 shares of the company’s stock, valued at approximately $45,790,130.38. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Core Scientific Stock Performance

Shares of CORZ opened at $23.50 on Thursday. The firm has a market cap of $7.47 billion, a P/E ratio of -20.61 and a beta of 5.50. Core Scientific, Inc. has a twelve month low of $12.42 and a twelve month high of $30.46. The firm’s 50 day moving average price is $25.36 and its two-hundred day moving average price is $20.09.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The firm had revenue of $115.24 million for the quarter, compared to the consensus estimate of $117.04 million. During the same period last year, the company earned $1.25 earnings per share. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Core Scientific, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Core Scientific

Several institutional investors and hedge funds have recently modified their holdings of CORZ. GAMMA Investing LLC raised its position in shares of Core Scientific by 34.5% in the second quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock valued at $78,000 after purchasing an additional 782 shares during the period. Avior Wealth Management LLC acquired a new position in Core Scientific in the 2nd quarter valued at about $264,000. Harbor Investment Advisory LLC bought a new position in shares of Core Scientific during the second quarter worth approximately $136,000. CoreCap Advisors LLC bought a new position in Core Scientific during the 2nd quarter worth $36,000. Finally, Sapient Capital LLC bought a new position in Core Scientific during the first quarter worth about $209,000.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CORZ. Cantor Fitzgerald increased their target price on shares of Core Scientific from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Wall Street Zen raised shares of Core Scientific to a “sell” rating in a research note on Saturday, March 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $32.00 price target on shares of Core Scientific in a research report on Wednesday, June 3rd. B. Riley Financial upped their price target on shares of Core Scientific from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given 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 an average price target of $29.78.

Core Scientific Company Profile

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.