Core Scientific (NASDAQ:CORZ) Shares Gap Up to $3.64

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $3.64, but opened at $3.77. Core Scientific shares last traded at $3.73, with a volume of 405,151 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. HC Wainwright restated a "buy" rating and set a $5.00 price objective on shares of Core Scientific in a research report on Wednesday, March 13th. Compass Point raised Core Scientific from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $1.00 to $8.50 in a research report on Wednesday, January 31st.

Core Scientific Stock Performance

The company's fifty day moving average is $3.35 and its 200-day moving average is $2.31.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.17). The firm had revenue of $141.93 million during the quarter, compared to the consensus estimate of $133.10 million. On average, analysts anticipate that Core Scientific, Inc. will post -0.17 earnings per share for the current year.

Insider Activity

In related news, CEO Adam Taylor Sullivan bought 65,300 shares of the company's stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $3.06 per share, with a total value of $199,818.00. Following the completion of the transaction, the chief executive officer now owns 93,753 shares of the company's stock, valued at approximately $286,884.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Core Scientific news, Director Eric Stanton Weiss bought 15,000 shares of the firm's stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $3.03 per share, for a total transaction of $45,450.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $45,450. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Taylor Sullivan bought 65,300 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $3.06 per share, for a total transaction of $199,818.00. Following the purchase, the chief executive officer now owns 93,753 shares of the company's stock, valued at $286,884.18. The disclosure for this purchase can be found here.

Institutional Trading of Core Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CORZ. Barings LLC bought a new stake in Core Scientific during the first quarter worth about $36,515,000. Vanguard Group Inc. bought a new stake in Core Scientific during the first quarter worth about $21,973,000. Blair William & Co. IL bought a new stake in Core Scientific during the first quarter worth about $1,156,000. Perigon Wealth Management LLC bought a new stake in Core Scientific during the first quarter worth about $688,000. Finally, Concurrent Investment Advisors LLC bought a new stake in Core Scientific during the first quarter worth about $417,000.

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.