Todd A. Becker Sells 134,250 Shares of Core Scientific, Inc. (NASDAQ:CORZ) Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Todd A. Becker sold 134,250 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total value of $1,443,187.50. Following the completion of the transaction, the director now owns 195,687 shares of the company’s stock, valued at $2,103,635.25. The trade was a 40.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Core Scientific Stock Performance

CORZ stock opened at $7.85 on Friday. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63. The firm has a market cap of $2.31 billion, a P/E ratio of -1.45 and a beta of 6.83. The stock has a 50-day simple moving average of $12.78 and a 200-day simple moving average of $13.28.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. On average, equities research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on CORZ. Macquarie upped their target price on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Compass Point dropped their target price on Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a research note on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price for the company. Roth Mkm assumed coverage on Core Scientific in a research note on Friday, November 15th. They set a “buy” rating and a $25.50 price target for the company. Finally, Cantor Fitzgerald dropped their price target on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $19.07.

Institutional Investors Weigh In On Core Scientific

A number of large investors have recently modified their holdings of the stock. Xponance Inc. boosted its holdings in Core Scientific by 7.9% in the fourth quarter. Xponance Inc. now owns 12,800 shares of the company’s stock valued at $180,000 after purchasing an additional 937 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Core Scientific by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company’s stock valued at $262,000 after purchasing an additional 1,185 shares during the last quarter. Wellington Shields & Co. LLC purchased a new position in Core Scientific in the fourth quarter valued at about $26,000. First Horizon Advisors Inc. purchased a new position in Core Scientific in the fourth quarter valued at about $34,000. Finally, Joel Isaacson & Co. LLC boosted its holdings in Core Scientific by 4.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock valued at $815,000 after purchasing an additional 2,500 shares during the last quarter.

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.