Core Scientific, Inc. (NASDAQ:CORZ) Insider Todd M. Duchene Sells 7,759 Shares

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd M. Duchene sold 7,759 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total transaction of $96,134.01. Following the completion of the sale, the insider now owns 2,049,689 shares in the company, valued at approximately $25,395,646.71. This trade represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Core Scientific Stock Performance

Shares of CORZ stock traded up $0.29 on Friday, reaching $16.65. 72,441,151 shares of the company's stock traded hands, compared to its average volume of 13,263,974. The business's 50 day moving average price is $10.47 and its two-hundred day moving average price is $11.09. The company has a market capitalization of $4.96 billion, a P/E ratio of -3.31 and a beta of 6.30. Core Scientific, Inc. has a 12-month low of $6.20 and a 12-month high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $79.53 million for the quarter, compared to analysts' expectations of $92.04 million. The company's revenue was down 55.6% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. Research analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Institutional Trading of Core Scientific

Several institutional investors have recently made changes to their positions in CORZ. Wellington Shields & Co. LLC purchased a new stake in Core Scientific in the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. acquired a new position in shares of Core Scientific in the fourth quarter worth $34,000. Vestcor Inc purchased a new stake in shares of Core Scientific during the fourth quarter worth $66,000. State of Wyoming acquired a new stake in Core Scientific during the first quarter valued at $34,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Core Scientific in the first quarter valued at about $38,000.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CORZ shares. Oppenheimer started coverage on shares of Core Scientific in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $15.00 price objective on the stock. Roth Mkm restated a "buy" rating and set a $20.00 target price on shares of Core Scientific in a report on Thursday. Cantor Fitzgerald dropped their price target on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, March 11th. Finally, Citizens Jmp raised Core Scientific to a "strong-buy" rating and set a $15.00 price objective for the company in a research note on Thursday, May 22nd. Eighteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Core Scientific presently has an average rating of "Buy" and a consensus price target of $18.14.

About Core Scientific

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.

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