Insider Selling: Core Scientific, Inc. (NASDAQ:CORZ) Insider Sells 129,861 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,849,220.64. Following the completion of the transaction, the insider now owns 2,051,649 shares of the company’s stock, valued at $29,215,481.76. This trade represents a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Core Scientific Trading Up 6.2 %

Shares of NASDAQ CORZ opened at $15.38 on Monday. The stock has a fifty day moving average price of $15.60 and a 200 day moving average price of $12.44. The company has a market cap of $4.29 billion and a P/E ratio of -2.84. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63.

Institutional Investors Weigh In On Core Scientific

A number of large investors have recently modified their holdings of CORZ. Banque Cantonale Vaudoise purchased a new position in Core Scientific in the 2nd quarter worth approximately $28,000. Sunbelt Securities Inc. purchased a new position in shares of Core Scientific in the second quarter valued at $33,000. Divisadero Street Capital Management LP purchased a new position in shares of Core Scientific in the second quarter valued at $93,000. Rise Advisors LLC grew its holdings in Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Xponance Inc. purchased a new stake in Core Scientific during the 2nd quarter worth $104,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Canaccord Genuity Group initiated coverage on shares of Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. Roth Mkm started coverage on shares of Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price objective on the stock. Needham & Company LLC boosted their target price on shares of Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, BTIG Research increased their price target on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Core Scientific currently has a consensus rating of “Buy” and an average target price of $18.46.

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.