Core Scientific (NASDAQ:CORZ) Trading Up 5.9%

Core Scientific, Inc. (NASDAQ:CORZ) shares were up 5.9% during trading on Thursday . The company traded as high as $2.91 and last traded at $2.86. Approximately 508,386 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,221,217 shares. The stock had previously closed at $2.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CORZ shares. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Core Scientific in a research report on Wednesday, March 13th. Compass Point upgraded Core Scientific from a “neutral” rating to a “buy” rating and increased their target price for the stock from $1.00 to $8.50 in a research note on Wednesday, January 31st.

Core Scientific Trading Up 6.7 %

The stock has a fifty day moving average price of $3.46 and a two-hundred day moving average price of $1.95.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.17). The company had revenue of $141.93 million for the quarter, compared to analyst estimates of $133.10 million. Research analysts forecast that Core Scientific, Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In related news, Director Eric Stanton Weiss purchased 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $3.03 per share, for a total transaction of $45,450.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $45,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Adam Taylor Sullivan acquired 65,300 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average price of $3.06 per share, with a total value of $199,818.00. Following the completion of the transaction, the chief executive officer now directly owns 93,753 shares of the company’s stock, valued at approximately $286,884.18. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Stanton Weiss bought 15,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $3.03 per share, for a total transaction of $45,450.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at $45,450. The disclosure for this purchase can be found here. Insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Core Scientific in the 1st quarter valued at $56,000. Hexagon Capital Partners LLC acquired a new stake in Core Scientific in the first quarter valued at about $34,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Core Scientific in the first quarter valued at about $110,000. Vident Investment Advisory LLC acquired a new position in Core Scientific during the first quarter worth about $119,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Core Scientific in the second quarter worth about $28,000.

About Core Scientific

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.