Insider Selling: Core Scientific (NASDAQ:CORZ) Insider Sells 10,000 Shares of Stock

Key Points

• Insider sale: Core Scientific insider Todd Duchene sold 10,000 shares for approximately $186,700, reducing his position by 0.81% to 1,217,896 shares.
• Stock and earnings: Shares fell 4.0% to $17.37, while the company reported a quarterly loss of $3.32 per share—well below analysts’ expected loss of $0.06—despite revenue exceeding estimates.
• Analyst outlook: Analysts maintain a generally bullish view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $32.18, substantially above its current price.

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd Duchene sold 10,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $18.67, for a total value of $186,700.00. Following the completion of the transaction, the insider directly owned 1,217,896 shares of the company's stock, valued at $22,738,118.32. This represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Core Scientific Trading Down 4.0%

Core Scientific stock traded down $0.72 during midday trading on Thursday, hitting $17.37. The stock had a trading volume of 7,717,464 shares, compared to its average volume of 12,647,193. The stock has a market cap of $5.58 billion, a P/E ratio of -3.93 and a beta of 5.48. Core Scientific, Inc. has a 12 month low of $13.35 and a 12 month high of $30.46. The business has a fifty day moving average price of $20.32 and a 200 day moving average price of $21.02.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($3.26). The business had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. On average, equities analysts anticipate that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Core Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust grew its position in Core Scientific by 1,371.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company's stock worth $30,000 after purchasing an additional 1,097 shares in the last quarter. Allworth Financial LP increased its holdings in Core Scientific by 206.5% in the third quarter. Allworth Financial LP now owns 1,410 shares of the company's stock worth $25,000 after buying an additional 950 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in shares of Core Scientific in the 2nd quarter valued at $36,000. Rakuten Securities Inc. bought a new stake in shares of Core Scientific during the 2nd quarter worth about $47,000. Finally, Larson Financial Group LLC raised 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 during the period.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. B. Riley Financial lifted their target price on Core Scientific from $33.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. BTIG Research reissued a "buy" rating and issued a $38.00 price target on shares of Core Scientific in a research note on Tuesday, July 28th. Wolfe Research restated a "buy" rating on shares of Core Scientific in a research note on Wednesday, July 29th. Compass Point reaffirmed a "buy" rating and issued a $36.00 price objective on shares of Core Scientific in a report on Wednesday, July 29th. Finally, Loop Capital set a $40.00 target price on shares of Core Scientific in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Core Scientific currently has an average rating of "Moderate Buy" and an average target price of $32.18.

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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