Core Scientific, Inc. (NASDAQ:CORZ) Insider Todd M. Duchene Sells 25,277 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 25,277 shares of Core Scientific stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $410,498.48. Following the completion of the transaction, the insider now owns 2,023,423 shares of the company’s stock, valued at $32,860,389.52. The trade was a 1.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Core Scientific Stock Performance

Shares of CORZ opened at $11.31 on Wednesday. The firm has a market cap of $3.16 billion and a price-to-earnings ratio of -2.09. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The firm has a 50 day moving average price of $15.37 and a 200-day moving average price of $13.03.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $94.80 million. As a group, equities research analysts predict that Core Scientific, Inc. will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds have recently made changes to their positions in CORZ. Renaissance Technologies LLC bought a new stake in shares of Core Scientific in the 2nd quarter worth approximately $2,213,000. Amalgamated Bank purchased a new position in shares of Core Scientific in the second quarter worth $115,000. Xponance Inc. purchased a new position in shares of Core Scientific in the second quarter worth $104,000. Marshall Wace LLP increased its stake in shares of Core Scientific by 284.9% in the second quarter. Marshall Wace LLP now owns 444,983 shares of the company’s stock worth $4,138,000 after buying an additional 329,385 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Core Scientific in the second quarter worth $598,000.

Analyst Ratings Changes

A number of research firms have recently commented on CORZ. Roth Mkm began coverage on shares of Core Scientific in a research report on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective for the company. Keefe, Bruyette & Woods began coverage on shares of Core Scientific in a research report on Monday. They issued an “outperform” rating and a $22.00 price objective for the company. Macquarie raised their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. BTIG Research raised their price objective on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research 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. Based on data from MarketBeat.com, Core Scientific has an average rating of “Buy” and a consensus target price of $19.07.

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.