Core Scientific (NASDAQ:CORZ) Shares Gap Down to $9.09

Core Scientific, Inc. (NASDAQ:CORZGet Free Report)’s share price gapped down prior to trading on Friday . The stock had previously closed at $9.09, but opened at $8.70. Core Scientific shares last traded at $8.46, with a volume of 444,823 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CORZ. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Core Scientific in a research note on Wednesday, March 13th. BTIG Research raised their price target on Core Scientific from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 6th.

Check Out Our Latest Stock Analysis on CORZ

Core Scientific Trading Down 6.9 %

The firm has a fifty day simple moving average of $5.00 and a 200-day simple moving average of $3.41.

Core Scientific (NASDAQ:CORZGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.14. The firm had revenue of $179.29 million for the quarter, compared to analysts’ expectations of $139.60 million. As a group, sell-side analysts forecast that Core Scientific, Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling

In related news, insider Todd M. Duchene sold 3,770 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $9.99, for a total transaction of $37,662.30. Following the transaction, the insider now owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Aspect Partners LLC purchased a new position in shares of Core Scientific during the first quarter worth about $29,000. Hexagon Capital Partners LLC acquired a new stake in shares of Core Scientific during the 1st quarter valued at approximately $34,000. Lindbrook Capital LLC acquired a new stake in shares of Core Scientific during the 1st quarter valued at approximately $65,000. Fiduciary Alliance LLC acquired a new stake in shares of Core Scientific during the 1st quarter valued at approximately $84,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Core Scientific during the 1st quarter valued at approximately $122,000.

About Core Scientific

(Get Free Report)

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.

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