Insider Selling: Core Scientific (NASDAQ:CORZ) Insider Sells $124,500.00 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $12.45, for a total transaction of $124,500.00. Following the completion of the sale, the insider directly owned 1,113,286 shares of the company’s stock, valued at $13,860,410.70. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Core Scientific Trading Down 1.3%

Shares of CORZ traded down $0.19 during mid-day trading on Thursday, hitting $14.38. 19,410,698 shares of the company’s stock were exchanged, compared to its average volume of 13,163,444. Core Scientific, Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $30.46. The firm has a market capitalization of $4.63 billion, a P/E ratio of -4.12 and a beta of 5.56. The business’s 50 day moving average is $15.51 and its two-hundred day moving average is $19.41.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.52. The firm had revenue of $232.87 million for the quarter, compared to analyst estimates of $196.54 million. Core Scientific had a negative return on equity of 70.05% and a negative net margin of 18.31%. On average, equities research analysts forecast that Core Scientific, Inc. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Core Scientific

Large investors have recently modified their holdings of the business. Handelsbanken Fonder AB boosted its stake in shares of Core Scientific by 0.7% in the second quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company’s stock valued at $2,418,000 after buying an additional 700 shares in the last quarter. GAMMA Investing LLC grew its holdings in Core Scientific by 34.5% during the second quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock worth $78,000 after acquiring an additional 782 shares during the period. Parallel Advisors LLC raised its position in Core Scientific by 125.0% in the third quarter. Parallel Advisors LLC now owns 1,800 shares of the company’s stock worth $29,000 after acquiring an additional 1,000 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Core Scientific by 1,371.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company’s stock worth $30,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Carronade Capital Management LP lifted its holdings in Core Scientific by 1.1% in the first quarter. Carronade Capital Management LP now owns 101,103 shares of the company’s stock valued at $1,513,000 after acquiring an additional 1,103 shares during the period.

Analyst Upgrades and Downgrades

CORZ has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Core Scientific in a research report on Wednesday, October 14th. UBS Group reissued a “market outperform” rating on shares of Core Scientific in a report on Wednesday, October 14th. Freedom Capital upgraded Core Scientific from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a report on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of Core Scientific from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $30.32.

Core Scientific Company Profile

Core Scientific, Inc. is a U.S.-based digital infrastructure company that operates data centers and provides computing services. Its business includes mining bitcoin, which involves using specialized computers to help process transactions and secure the Bitcoin network, as well as hosting equipment for third-party mining customers. The company also provides data center infrastructure for high-performance computing workloads, including artificial intelligence applications. Its facilities and services are designed to support the power, cooling, and computing needs of these operations.