Todd Duchene Sells 10,000 Shares of Core Scientific (NASDAQ:CORZ) Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd Duchene sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $18.67, for a total transaction of $186,700.00. Following the completion of the transaction, the insider owned 1,217,896 shares in the company, valued at $22,738,118.32. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $17.94 on Friday. The company has a market capitalization of $5.76 billion, a P/E ratio of -4.06 and a beta of 5.48. The company has a 50 day simple moving average of $20.17 and a 200-day simple moving average of $21.00. Core Scientific, Inc. has a 1 year low of $13.35 and a 1 year high of $30.46.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The company had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. As a group, research analysts expect that Core Scientific, Inc. will post -1.36 EPS for the current year.

Hedge Funds Weigh In On Core Scientific

Several hedge funds have recently bought and sold shares of CORZ. Allworth Financial LP boosted its holdings in Core Scientific by 206.5% during the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after acquiring an additional 950 shares during the period. Larson Financial Group LLC increased its stake in shares of Core Scientific by 936.7% during the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after buying an additional 1,686 shares during the period. Parkside Financial Bank & Trust raised its holdings 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 valued at $30,000 after acquiring an additional 1,097 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Core Scientific by 112.1% in the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after acquiring an additional 1,066 shares during the last quarter. Finally, CoreCap Advisors LLC purchased a new position in Core Scientific in the second quarter worth approximately $36,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. B. Riley Financial raised their price objective on Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Lucid Cap Mkts raised shares of Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. Sanford C. Bernstein reiterated an “outperform” rating and set a $32.00 price target on shares of Core Scientific in a research report on Wednesday, June 3rd. Canaccord Genuity Group boosted their price target on shares of Core Scientific from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Loop Capital set a $40.00 price objective on shares of Core Scientific in a report on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.18.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a digital infrastructure company that develops and operates data centers for high-performance computing. Its business has historically centered on large-scale bitcoin mining, including the deployment and operation of specialized computing equipment and supporting power, networking and facility infrastructure.

The company also provides hosting and colocation services for digital asset miners and other high-performance computing customers. Core Scientific has increasingly focused on expanding its data center platform for artificial intelligence and other compute-intensive workloads, including infrastructure designed to support graphics processing unit (GPU) deployments.

Founded in 2017, Core Scientific operates data center facilities in the United States and emerged from Chapter 11 bankruptcy protection in January 2024.