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

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors bought 150,168 call options on the stock. This represents an increase of 103% compared to the typical volume of 74,046 call options.

Insider Buying and Selling

In other news, insider Todd M. Duchene sold 60,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total value of $679,800.00. Following the transaction, the insider now owns 2,100,102 shares of the company's stock, valued at $23,794,155.66. This represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yadin Rozov purchased 110,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were bought at an average price of $10.87 per share, for a total transaction of $1,195,700.00. Following the acquisition, the director now owns 475,687 shares in the company, valued at $5,170,717.69. This trade represents a 30.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Institutional Trading of Core Scientific

Several hedge funds have recently modified their holdings of CORZ. Xponance Inc. increased its holdings in shares of Core Scientific by 7.9% in the fourth quarter. Xponance Inc. now owns 12,800 shares of the company's stock valued at $180,000 after purchasing an additional 937 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in Core Scientific by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company's stock valued at $262,000 after acquiring an additional 1,185 shares in the last quarter. Wellington Management Group LLP lifted its position in Core Scientific by 11.7% in the 1st quarter. Wellington Management Group LLP now owns 11,967 shares of the company's stock valued at $87,000 after acquiring an additional 1,256 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in Core Scientific by 17.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 10,391 shares of the company's stock valued at $75,000 after acquiring an additional 1,567 shares in the last quarter. Finally, US Bancorp DE lifted its position in Core Scientific by 23.7% in the 1st quarter. US Bancorp DE now owns 8,682 shares of the company's stock valued at $63,000 after acquiring an additional 1,663 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on CORZ shares. HC Wainwright reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, March 11th. Citigroup started coverage on Core Scientific in a research report on Thursday, May 22nd. They issued an "outperform" rating for the company. Canaccord Genuity Group reissued a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a research report on Friday, May 9th. Oppenheimer started coverage on Core Scientific in a research report on Wednesday, May 14th. They issued an "outperform" rating and a $15.00 target price for the company. Finally, Cantor Fitzgerald decreased their target price on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Eighteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $18.33.

Core Scientific Price Performance

Shares of NASDAQ CORZ traded down $0.30 during mid-day trading on Thursday, hitting $12.26. The company had a trading volume of 8,213,928 shares, compared to its average volume of 13,220,587. The firm has a market cap of $3.65 billion, a P/E ratio of -2.27 and a beta of 6.66. Core Scientific has a 12 month low of $6.20 and a 12 month high of $18.63. The business's 50-day simple moving average is $8.69 and its 200-day simple moving average is $11.60.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. The business's quarterly revenue was down 55.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. As a group, sell-side analysts predict that Core Scientific will post 0.52 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.