Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan Sells 369,712 Shares

Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan sold 369,712 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the transaction, the chief executive officer now owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. The trade was a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Adam Taylor Sullivan also recently made the following trade(s):

• On Thursday, January 2nd, Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock. The shares were sold at an average price of $14.24, for a total transaction of $1,258,531.20.

Core Scientific Stock Performance

NASDAQ CORZ traded up $0.03 on Tuesday, hitting $11.31. 34,770,429 shares of the stock were exchanged, compared to its average volume of 12,609,968. The stock has a fifty day moving average price of $15.37 and a two-hundred day moving average price of $13.03. The firm has a market capitalization of $3.16 billion and a P/E ratio of -2.09. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $95.35 million during the quarter, compared to analyst estimates of $94.80 million. Sell-side analysts expect that Core Scientific, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core Scientific

Several hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. bought a new position in shares of Core Scientific in the 2nd quarter worth $33,000. Newbridge Financial Services Group Inc. bought a new position in Core Scientific in the fourth quarter worth about $42,000. Rise Advisors LLC lifted its position in shares of Core Scientific by 14.3% during the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after buying an additional 1,000 shares during the last quarter. Xponance Inc. bought a new stake in shares of Core Scientific in the 2nd quarter valued at about $104,000. Finally, KBC Group NV bought a new stake in shares of Core Scientific in the 4th quarter valued at about $114,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CORZ. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Core Scientific in a report on Friday, January 17th. Craig Hallum assumed coverage on Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price for the company. Compass Point increased their price target on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research report on Thursday, November 7th. Finally, Macquarie boosted their price target on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Core Scientific currently has an average rating of “Buy” and an average price target of $19.07.

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.