Core Scientific Sees Unusually High Options Volume (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) saw some unusual options trading activity on Friday. Traders bought 225,171 call options on the company. This is an increase of approximately 241% compared to the typical volume of 66,037 call options.

Insider Activity at Core Scientific

In related news, Director Jordan Levy purchased 62,500 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, with a total value of $500,625.00. Following the completion of the acquisition, the director now owns 306,887 shares in the company, valued at approximately $2,458,164.87. This represents a 25.57 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now directly owns 195,687 shares of the company's stock, valued at approximately $2,103,635.25. This trade represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. boosted its position in shares of Core Scientific by 7.9% during the fourth quarter. Xponance Inc. now owns 12,800 shares of the company's stock worth $180,000 after buying an additional 937 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Core Scientific by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company's stock worth $262,000 after buying an additional 1,185 shares during the period. Wellington Shields & Co. LLC purchased a new position in shares of Core Scientific during the fourth quarter worth $26,000. First Horizon Advisors Inc. purchased a new position in shares of Core Scientific during the fourth quarter worth $34,000. Finally, Joel Isaacson & Co. LLC boosted its holdings in Core Scientific by 4.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company's stock valued at $815,000 after purchasing an additional 2,500 shares during the period.

Analysts Set New Price Targets

Several analysts recently commented on the stock. HC Wainwright restated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, March 11th. Craig Hallum assumed coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target on the stock. Needham & Company LLC dropped their price target on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an "outperform" rating and a $22.00 price target on the stock. Finally, Compass Point dropped their price target on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $19.07.

Core Scientific Trading Down 0.8 %

Core Scientific stock traded down $0.07 during mid-day trading on Monday, hitting $8.24. The company's stock had a trading volume of 10,085,466 shares, compared to its average volume of 12,677,694. The firm has a market capitalization of $2.43 billion, a PE ratio of -1.52 and a beta of 6.80. Core Scientific has a 1 year low of $2.88 and a 1 year high of $18.63. The stock's fifty day moving average is $8.29 and its two-hundred day moving average is $12.38.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to analysts' expectations of $97.07 million. On average, equities analysts expect that Core Scientific will post 0.52 EPS for the current fiscal year.

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.