Core Scientific (NASDAQ:CORZ) Stock Price Up 9%

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report)'s share price was up 9% on Thursday . The company traded as high as $3.29 and last traded at $3.27. Approximately 981,660 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 3,166,052 shares. The stock had previously closed at $3.00.

Analyst Ratings Changes

Several analysts have recently issued reports on CORZ shares. Compass Point upgraded shares of Core Scientific from a "neutral" rating to a "buy" rating and upped their target price for the company from $1.00 to $8.50 in a research report on Wednesday, January 31st. HC Wainwright reaffirmed a "buy" rating and issued a $5.00 price objective on shares of Core Scientific in a research note on Wednesday, March 13th.

Core Scientific Stock Performance

The firm's 50 day simple moving average is $3.37 and its 200 day simple moving average is $2.14.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.17). The company had revenue of $141.93 million for the quarter, compared to analysts' expectations of $133.10 million. As a group, equities analysts anticipate that Core Scientific, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Eric Stanton Weiss acquired 15,000 shares of the business's stock in a transaction on Friday, March 15th. The shares were bought at an average price of $3.03 per share, with a total value of $45,450.00. Following the transaction, the director now directly owns 15,000 shares of the company's stock, valued at approximately $45,450. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Eric Stanton Weiss acquired 15,000 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $3.03 per share, for a total transaction of $45,450.00. Following the acquisition, the director now directly owns 15,000 shares of the company's stock, valued at approximately $45,450. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Taylor Sullivan acquired 65,300 shares of the stock in a transaction on Friday, March 15th. The stock was bought at an average cost 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 in the company, valued at $286,884.18. The disclosure for this purchase can be found here. Company insiders own 32.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Capstone Investment Advisors LLC purchased a new position in Core Scientific during the 1st quarter valued at about $307,000. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific during the first quarter valued at approximately $34,000. Fiduciary Alliance LLC purchased a new position in Core Scientific during the first quarter valued at approximately $84,000. Perigon Wealth Management LLC purchased a new position in Core Scientific during the first quarter valued at approximately $688,000. Finally, Lindbrook Capital LLC bought a new position in Core Scientific in the first quarter worth approximately $65,000.

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.