Core Scientific, Inc. (NASDAQ:CORZ) Director Sells $1,443,187.50 in 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 stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now owns 195,687 shares of the company’s stock, valued at approximately $2,103,635.25. The trade was a 40.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Core Scientific Trading Down 0.9 %

Shares of NASDAQ CORZ opened at $7.78 on Friday. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -1.44 and a beta of 6.83. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63. The company’s 50-day moving average price is $12.65 and its 200 day moving average price is $13.26.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. As a group, research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Institutional Investors Weigh In On Core Scientific

A number of large investors have recently added to or reduced their stakes in CORZ. FMR LLC grew its stake in Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company’s stock valued at $104,479,000 after acquiring an additional 7,191,428 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Core Scientific by 54.3% during the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock worth $272,270,000 after purchasing an additional 6,819,406 shares during the last quarter. Helix Partners Management LP acquired a new stake in shares of Core Scientific during the 4th quarter worth about $86,498,000. Driehaus Capital Management LLC boosted its stake in shares of Core Scientific by 112.1% during the 4th quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company’s stock worth $144,212,000 after purchasing an additional 5,424,901 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of Core Scientific during the 4th quarter worth about $62,011,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC cut their price objective on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. BTIG Research upped their price objective on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 price objective for the company. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Roth Mkm began coverage on shares of Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 price target for the company. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Core Scientific presently has a consensus rating of “Buy” and an average 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.