Core Scientific, Inc. (NASDAQ:CORZ) Director Sells $1,443,187.50 in Stock

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) Director Todd A. Becker sold 134,250 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the transaction, the director now owns 195,687 shares of the company's stock, valued at approximately $2,103,635.25. The trade was a 40.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Core Scientific Stock Down 0.9 %

Shares of NASDAQ CORZ traded down $0.07 during mid-day trading on Friday, hitting $7.78. 31,827,030 shares of the company traded hands, compared to its average volume of 10,539,098. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -1.44 and a beta of 6.83. The business has a 50 day moving average of $12.65 and a two-hundred day moving average of $13.28.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to analysts' expectations of $97.07 million. As a group, research analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current year.

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Wall Street Analyst Weigh In

A number of research analysts recently commented on CORZ shares. HC Wainwright restated a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research note on Thursday, February 27th. Needham & Company LLC reduced their price target on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group reiterated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Thursday, February 27th. Roth Mkm assumed coverage on Core Scientific in a research report on Friday, November 15th. They set a "buy" rating and a $25.50 price target for the company. Finally, BTIG Research boosted their price target on Core Scientific from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $19.07.

Institutional Investors Weigh In On Core Scientific

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Core Scientific by 54.3% during the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock valued at $272,270,000 after buying an additional 6,819,406 shares during the period. Beryl Capital Management LLC raised its position in Core Scientific by 24.3% during the fourth quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company's stock valued at $255,423,000 after buying an additional 3,548,396 shares during the period. Driehaus Capital Management LLC raised its position in Core Scientific by 112.1% during the fourth quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company's stock valued at $144,212,000 after buying an additional 5,424,901 shares during the period. ORG Wealth Partners LLC raised its position in Core Scientific by 0.3% during the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company's stock valued at $126,262,000 after buying an additional 26,649 shares during the period. Finally, FMR LLC raised its position in Core Scientific by 2,937.7% during the fourth quarter. FMR LLC now owns 7,436,229 shares of the company's stock valued at $104,479,000 after buying an additional 7,191,428 shares during the period.

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.