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

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 shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this link.

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 Trading Up 0.3 %

Shares of CORZ traded up $0.03 on Tuesday, reaching $11.31. The company’s stock had a trading volume of 34,770,429 shares, compared to its average volume of 12,609,968. The stock has a market capitalization of $3.16 billion and a PE ratio of -2.09. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The firm has a fifty day moving average of $15.37 and a 200-day moving average of $13.03.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $95.35 million during the quarter, compared to the consensus estimate of $94.80 million. As a group, equities analysts anticipate that Core Scientific, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Trading of Core Scientific

Institutional investors and hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in shares of Core Scientific during the 3rd quarter worth $106,266,000. Rush Island Management LP bought a new position in shares of Core Scientific in the third quarter worth $32,221,000. Taconic Capital Advisors LP increased its position in shares of Core Scientific by 178.7% during the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after buying an additional 1,742,462 shares during the period. Mirabella Financial Services LLP bought a new position in shares of Core Scientific in the third quarter worth $18,383,000. Finally, Geode Capital Management LLC grew its holdings in shares of Core Scientific by 26.7% during the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after purchasing an additional 1,113,285 shares in the last quarter.

Wall Street Analysts Forecast Growth

CORZ has been the topic of several research reports. Jefferies Financial Group initiated coverage on Core Scientific in a report on Monday, October 28th. They set a “buy” rating and a $19.00 price target on the stock. BTIG Research boosted their target price on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Craig Hallum assumed coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price objective on shares of Core Scientific in a research note on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods assumed coverage on Core Scientific in a report on Monday. They issued an “outperform” rating and a $22.00 price objective for the company. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target 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.