Core Scientific (NASDAQ:CORZ) Insider Sells $209,400.00 in Stock

Key Points

• Insider sale: Todd Duchene sold 10,000 shares on April 27 at an average price of $20.94 for $209,400, trimming his stake by 0.50% to 1,990,348 shares valued at about $41.68 million.
• Stock and fundamentals: CORZ traded down to $19.56 (down 2.3%) with a $6.17 billion market cap; the company beat EPS estimates ($0.42 vs. -$0.27) but missed revenue ($79.8M vs. $118.5M), and analysts have a consensus Moderate Buy with a $25.07 target.

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd Duchene sold 10,000 shares of Core Scientific stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $20.94, for a total transaction of $209,400.00. Following the sale, the insider owned 1,990,348 shares of the company's stock, valued at approximately $41,677,887.12. The trade was a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Core Scientific Trading Down 2.3%

NASDAQ CORZ traded down $0.46 on Wednesday, hitting $19.56. 11,398,621 shares of the company's stock traded hands, compared to its average volume of 12,071,446. Core Scientific, Inc. has a 1-year low of $7.65 and a 1-year high of $23.63. The firm's 50-day moving average price is $17.32 and its two-hundred day moving average price is $17.41. The firm has a market capitalization of $6.17 billion, a PE ratio of 16.72 and a beta of 6.34.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business had revenue of $79.76 million for the quarter, compared to analyst estimates of $118.45 million. During the same quarter in the previous year, the firm posted ($0.69) earnings per share. The business's revenue was down 16.0% on a year-over-year basis. On average, research analysts anticipate that Core Scientific, Inc. will post 0.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CORZ has been the subject of several analyst reports. HC Wainwright reiterated a "buy" rating and issued a $25.00 target price on shares of Core Scientific in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Core Scientific from $19.00 to $25.00 and gave the company a "moderate buy" rating in a research note on Tuesday, January 27th. Zacks Research upgraded shares of Core Scientific from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 13th. LADENBURG THALM/SH SH decreased their target price on shares of Core Scientific from $24.50 to $23.75 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Finally, Cantor Fitzgerald boosted their target price on shares of Core Scientific from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.07.

Institutional Investors Weigh In On Core Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company's stock worth $25,000 after acquiring an additional 950 shares in the last quarter. Larson Financial Group LLC increased its holdings in Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company's stock worth $27,000 after acquiring an additional 1,686 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company's stock worth $34,000 after acquiring an additional 1,066 shares in the last quarter. Danske Bank A S purchased a new stake in Core Scientific in the 4th quarter worth $36,000. Finally, Russell Investments Group Ltd. increased its holdings in Core Scientific by 61.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company's stock worth $67,000 after acquiring an additional 1,507 shares in the last quarter.

About Core Scientific

Core Scientific, Inc NASDAQ: CORZ is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific's service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.

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