Jordan Levy Buys 62,500 Shares of Core Scientific, Inc. (NASDAQ:CORZ) Stock

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) Director Jordan Levy acquired 62,500 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the purchase, the director now directly owns 306,887 shares of the company's stock, valued at $2,458,164.87. This trade represents a 25.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Core Scientific Stock Performance

CORZ traded up $0.23 during mid-day trading on Monday, reaching $8.01. 45,369,379 shares of the stock were exchanged, compared to its average volume of 10,678,627. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The company has a 50 day moving average price of $12.65 and a two-hundred day moving average price of $13.30. The stock has a market capitalization of $2.36 billion, a PE ratio of -1.48 and a beta of 6.83.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced 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 firm had revenue of $94.93 million during the quarter, compared to analysts' expectations of $97.07 million. Sell-side analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

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Wall Street Analysts Forecast Growth

CORZ has been the subject of several research reports. BTIG Research increased their price objective on Core Scientific from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Compass Point cut their price objective on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Needham & Company LLC decreased their target price on Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Cantor Fitzgerald lowered their target price on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Finally, Roth Capital upgraded shares of Core Scientific to a "strong-buy" rating in a research report on Thursday, November 14th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Core Scientific currently has a consensus rating of "Buy" and a consensus target price of $19.07.

Institutional Investors Weigh In On Core Scientific

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Core Scientific by 25.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company's stock worth $1,378,000 after buying an additional 20,000 shares during the period. Highland Peak Capital LLC raised its stake in Core Scientific by 37.9% during the 3rd quarter. Highland Peak Capital LLC now owns 413,584 shares of the company's stock valued at $4,905,000 after buying an additional 113,584 shares during the last quarter. Mirabella Financial Services LLP bought a new position in Core Scientific in the third quarter valued at about $18,383,000. Capstone Investment Advisors LLC boosted its holdings in shares of Core Scientific by 113.4% in the third quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company's stock worth $652,000 after buying an additional 29,230 shares during the last quarter. Finally, Seldon Capital LP purchased a new position in Core Scientific during the third quarter valued at $3,530,000.

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.