Core Scientific, Inc. (NASDAQ:CORZ) Insider Todd M. Duchene Sells 60,000 Shares

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 60,000 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total value of $679,800.00. Following the completion of the sale, the insider now owns 2,100,102 shares in the company, valued at $23,794,155.66. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Core Scientific Stock Performance

CORZ stock opened at $11.93 on Friday. The stock’s 50 day simple moving average is $8.89 and its 200 day simple moving average is $11.58. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $18.63. The company has a market cap of $3.55 billion, a P/E ratio of -2.21 and a beta of 6.66.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. During the same period last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was down 55.6% compared to the same quarter last year. Equities analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Analyst Ratings Changes

CORZ has been the topic of several research analyst reports. Citizens Jmp upgraded Core Scientific to a “strong-buy” rating and set a $15.00 target price on the stock in a research report on Thursday, May 22nd. Citigroup initiated coverage on Core Scientific in a research report on Thursday, May 22nd. They set an “outperform” rating on the stock. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Compass Point cut their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, JMP Securities initiated coverage on Core Scientific in a research report on Thursday, May 22nd. They set a “market outperform” rating and a $15.00 target price on the stock. Eighteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $18.33.

Institutional Trading of Core Scientific

Several institutional investors and hedge funds have recently modified their holdings of CORZ. KBC Group NV purchased a new stake in shares of Core Scientific in the fourth quarter worth approximately $114,000. Calamos Advisors LLC purchased a new stake in shares of Core Scientific in the fourth quarter worth approximately $1,405,000. Joel Isaacson & Co. LLC raised its stake in shares of Core Scientific by 4.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock worth $815,000 after purchasing an additional 2,500 shares during the last quarter. Stephens Inc. AR purchased a new stake in shares of Core Scientific in the fourth quarter worth approximately $927,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Core Scientific in the fourth quarter worth approximately $42,000.

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.