Traders Purchase Large Volume of Core Scientific Call Options (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 68,655 call options on the company. This is an increase of 50% compared to the typical volume of 45,810 call options.

Insider Buying and Selling

In other news, Director Jarrod M. Patten purchased 5,021 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $9.68 per share, with a total value of $48,603.28. Following the purchase, the director now owns 285,760 shares in the company, valued at approximately $2,766,156.80. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jarrod M. Patten acquired 5,021 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $9.68 per share, with a total value of $48,603.28. Following the transaction, the director now directly owns 285,760 shares in the company, valued at approximately $2,766,156.80. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jarrod M. Patten acquired 4,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was bought at an average cost of $9.70 per share, with a total value of $38,800.00. Following the completion of the transaction, the director now owns 279,239 shares in the company, valued at $2,708,618.30. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 12,761 shares of company stock valued at $127,080.

Institutional Trading of Core Scientific

Large investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise purchased a new stake in Core Scientific during the 2nd quarter worth approximately $28,000. Sunbelt Securities Inc. purchased a new stake in Core Scientific during the 2nd quarter worth approximately $33,000. Rise Advisors LLC purchased a new stake in Core Scientific during the 2nd quarter worth approximately $65,000. Aspect Partners LLC purchased a new stake in Core Scientific during the 1st quarter worth approximately $29,000. Finally, Divisadero Street Capital Management LP purchased a new stake in Core Scientific during the 2nd quarter worth approximately $93,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CORZ shares. Macquarie initiated coverage on shares of Core Scientific in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 price objective for the company. HC Wainwright boosted their price target on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group initiated coverage on shares of Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price target for the company. Needham & Company LLC boosted their price target on shares of Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday. Finally, Compass Point boosted their price target on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $17.21.

Core Scientific Trading Up 3.0 %

NASDAQ CORZ opened at $16.96 on Friday. The company has a 50 day moving average price of $12.34 and a 200 day moving average price of $9.39. Core Scientific has a 52 week low of $2.61 and a 52 week high of $17.01.

Core Scientific (NASDAQ:CORZ) last released its earnings results 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 business had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The company’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that Core Scientific will post 0.81 EPS for the current year.

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.