Core Scientific, Inc. (NASDAQ:CORZ) Director Purchases $48,603.28 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $9.68 per share, with a total value of $48,603.28. Following the completion of the acquisition, the director now directly owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $9.32 on Friday. The business has a 50-day simple moving average of $9.99 and a two-hundred day simple moving average of $6.47. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $12.25.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The firm had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $128.58 million. Core Scientific’s revenue was up 11.2% compared to the same quarter last year. Research analysts expect that Core Scientific, Inc. will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds have recently added to or reduced their stakes in CORZ. Fiduciary Alliance LLC bought a new stake in shares of Core Scientific in the first quarter worth $84,000. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific in the 1st quarter worth approximately $34,000. Lindbrook Capital LLC bought a new position in shares of Core Scientific in the 1st quarter worth approximately $65,000. Perigon Wealth Management LLC purchased a new position in shares of Core Scientific in the first quarter worth approximately $688,000. Finally, Capstone Investment Advisors LLC bought a new stake in Core Scientific during the first quarter valued at approximately $307,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. BTIG Research raised their price objective on Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a report on Tuesday. B. Riley upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and upped their price target for the stock from $0.50 to $13.00 in a research note on Wednesday, July 17th. Sanford C. Bernstein started coverage on shares of Core Scientific in a research report on Wednesday, July 10th. They set an “outperform” rating and a $17.00 price objective on the stock. Finally, Needham & Company LLC initiated coverage on shares of Core Scientific in a report on Wednesday. They issued a “buy” rating and a $16.00 target price for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $14.88.

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.