Core Scientific (NASDAQ:CORZ) Insider Sells $135,600.00 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $13.56, for a total value of $135,600.00. Following the transaction, the insider directly owned 1,133,286 shares in the company, valued at approximately $15,367,358.16. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Core Scientific Trading Down 8.2%

NASDAQ CORZ opened at $13.25 on Friday. Core Scientific, Inc. has a one year low of $12.31 and a one year high of $30.46. The stock has a 50-day moving average of $16.19 and a 200 day moving average of $19.63.

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

Analysts Set New Price Targets

A number of analysts have recently commented on CORZ shares. BTIG Research reiterated a “buy” rating and issued a $38.00 price target on shares of Core Scientific in a research note on Thursday, October 15th. Wolfe Research restated a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. B. Riley Financial dropped their target price on shares of Core Scientific from $42.00 to $31.00 and set a “buy” rating on the stock in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Core Scientific in a research report on Wednesday, October 14th. Finally, Citigroup reissued a “market outperform” rating on shares of Core Scientific in a report on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.28.

Institutional Investors Weigh In On Core Scientific

A number of large investors have recently made changes to their positions in CORZ. BlackRock Inc. bought a new stake in Core Scientific during the second quarter valued at approximately $719,649,000. Apollo Management Holdings L.P. bought a new position in Core Scientific in the second quarter worth approximately $115,671,000. Avala Global LP bought a new position in Core Scientific in the second quarter worth approximately $101,729,000. Bank of America Corp DE bought a new position in Core Scientific in the second quarter worth approximately $93,668,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Core Scientific by 64.1% during the 2nd quarter. Squarepoint Ops LLC now owns 2,686,177 shares of the company’s stock worth $68,739,000 after acquiring an additional 1,049,678 shares during the last quarter.

About Core Scientific

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.

Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.