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

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $18.67, for a total value of $186,700.00. Following the completion of the transaction, the insider directly owned 1,217,896 shares in the company, valued at approximately $22,738,118.32. This trade represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Core Scientific Trading Down 4.0%

NASDAQ CORZ opened at $17.37 on Friday. The stock has a market cap of $5.58 billion, a PE ratio of -3.93 and a beta of 5.48. Core Scientific, Inc. has a twelve month low of $13.35 and a twelve month high of $30.46. The stock has a fifty day simple moving average of $20.24 and a 200-day simple moving average of $21.02.

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

Hedge Funds Weigh In On Core Scientific

Institutional investors have recently bought and sold shares of the company. Xponance LLC increased its holdings in shares of Core Scientific by 2.5% in the 4th quarter. Xponance LLC now owns 22,896 shares of the company’s stock valued at $333,000 after purchasing an additional 562 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Core Scientific by 0.7% during the second quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company’s stock worth $2,418,000 after buying an additional 700 shares in the last quarter. Orion Porfolio Solutions LLC boosted its holdings in Core Scientific by 5.2% during the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after buying an additional 766 shares in the last quarter. GAMMA Investing LLC grew its position in Core Scientific by 34.5% during the second quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock worth $78,000 after buying an additional 782 shares during the period. Finally, Bank of Montreal Can grew its position in Core Scientific by 4.2% during the fourth quarter. Bank of Montreal Can now owns 21,592 shares of the company’s stock worth $314,000 after buying an additional 869 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CORZ. B. Riley Financial boosted their price target on shares of Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Jefferies Financial Group increased their price objective on shares of Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a report on Friday, July 17th. Wolfe Research reiterated a “buy” rating on shares of Core Scientific in a report on Wednesday, July 29th. Finally, Needham & Company LLC boosted their target price on Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Core Scientific presently has an average rating of “Moderate Buy” and an average target price of $32.18.

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.