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

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) was the target of unusually large options trading on Friday. Investors bought 225,171 call options on the company. This is an increase of 241% compared to the typical daily volume of 66,037 call options.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Needham & Company LLC decreased their target price on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Cantor Fitzgerald dropped their target price on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research note on Tuesday, March 11th. Craig Hallum began coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 price target for the company. Finally, Keefe, Bruyette & Woods began coverage on Core Scientific in a research report on Monday, January 27th. They set an "outperform" rating and a $22.00 price objective on the stock. 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 MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $19.07.

Core Scientific Stock Down 5.8 %

Shares of NASDAQ CORZ traded down $0.48 during midday trading on Wednesday, hitting $7.81. The stock had a trading volume of 4,771,317 shares, compared to its average volume of 12,668,253. The business's 50 day moving average is $8.15 and its 200-day moving average is $12.31. Core Scientific has a 52 week low of $2.88 and a 52 week high of $18.63. The company has a market cap of $2.30 billion, a P/E ratio of -1.44 and a beta of 6.80.

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

Insiders Place Their Bets

In other news, Director Jordan Levy acquired 62,500 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the transaction, the director now owns 306,887 shares of the company's stock, valued at $2,458,164.87. The trade was a 25.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Todd A. Becker sold 134,250 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the completion of the sale, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. The trade was a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Core Scientific

Several large investors have recently bought and sold shares of CORZ. Sanctuary Advisors LLC grew its stake in shares of Core Scientific by 130.1% in the third quarter. Sanctuary Advisors LLC now owns 34,527 shares of the company's stock worth $409,000 after acquiring an additional 19,522 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Core Scientific by 48.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company's stock worth $5,192,000 after buying an additional 142,068 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Core Scientific by 25.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company's stock worth $1,378,000 after acquiring an additional 20,000 shares during the period. ORG Wealth Partners LLC lifted its holdings in Core Scientific by 0.3% in the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company's stock valued at $126,262,000 after acquiring an additional 26,649 shares during the period. Finally, FNY Investment Advisers LLC boosted its position in Core Scientific by 35.8% in the fourth quarter. FNY Investment Advisers LLC now owns 190,747 shares of the company's stock worth $2,679,000 after purchasing an additional 50,275 shares during the last quarter.

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.