Traders Purchase Large Volume of Core Scientific Call Options (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) saw some unusual options trading activity on Thursday. Investors purchased 68,655 call options on the stock. This is an increase of approximately 50% compared to the typical volume of 45,810 call options.

Insider Activity

In other news, insider Todd M. Duchene sold 11,582 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the transaction, the insider now owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $82,356.32. Following the completion of the sale, the chief financial officer now owns 122,217 shares of the company’s stock, valued at $1,150,061.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the sale, the insider now directly owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders bought 12,761 shares of company stock valued at $127,080. 32.00% of the stock is currently owned by company insiders.

Institutional Trading of Core Scientific

Hedge funds have recently made changes to their positions in the stock. P Schoenfeld Asset Management LP purchased a new stake in shares of Core Scientific in the second quarter worth approximately $4,185,000. Vanguard Group Inc. purchased a new stake in shares of Core Scientific in the first quarter worth approximately $21,973,000. Blair William & Co. IL purchased a new stake in shares of Core Scientific in the first quarter worth approximately $1,156,000. DeepCurrents Investment Group LLC lifted its position in shares of Core Scientific by 157.7% in the second quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock worth $2,373,000 after purchasing an additional 156,162 shares in the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new position in Core Scientific during the second quarter valued at approximately $1,218,000.

Core Scientific Price Performance

CORZ stock traded up $1.37 during mid-day trading on Thursday, reaching $15.70. 11,195,531 shares of the stock traded hands, compared to its average volume of 8,751,083. Core Scientific has a 52-week low of $2.61 and a 52-week high of $15.81. The stock’s fifty day moving average is $12.08 and its 200-day moving average is $9.25.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The business had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts forecast that Core Scientific will post 0.81 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on CORZ. Canaccord Genuity Group began coverage on shares of Core Scientific in a report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price objective for the company. HC Wainwright upped their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein reissued an “outperform” rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, September 10th. Compass Point upped their price target on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a report on Thursday, October 3rd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $16.96.

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.