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

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 25,277 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Core Scientific Trading Up 1.3 %

CORZ stock opened at $11.46 on Thursday. The stock has a market capitalization of $3.20 billion and a PE ratio of -2.12. The stock’s 50 day simple moving average is $15.25 and its 200 day simple moving average is $13.02. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) 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. On average, research analysts predict that Core Scientific, Inc. will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CORZ. Newbridge Financial Services Group Inc. purchased a new stake in Core Scientific during the 4th quarter valued at $42,000. Sunbelt Securities Inc. purchased a new stake in Core Scientific during the second quarter valued at $33,000. Rise Advisors LLC lifted its holdings in Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after acquiring an additional 1,000 shares during the period. KBC Group NV purchased a new position in Core Scientific in the fourth quarter worth about $114,000. Finally, Duncan Williams Asset Management LLC bought a new stake in shares of Core Scientific during the 4th quarter valued at about $141,000.

Analysts Set New Price Targets

CORZ has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of Core Scientific in a research note on Monday, October 28th. They set a “buy” rating and a $19.00 target price on the stock. BTIG Research lifted their price objective on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Core Scientific in a research report on Friday, January 17th. Macquarie lifted their price target on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, Roth Mkm initiated coverage on Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective for the company. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently 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.