Core Scientific, Inc. (NASDAQ:CORZ) Insider Sells $1,849,220.64 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 129,861 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,849,220.64. Following the transaction, the insider now directly owns 2,051,649 shares in the company, valued at $29,215,481.76. The trade was a 5.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Core Scientific Stock Up 6.2 %

Core Scientific stock opened at $15.38 on Friday. The business’s 50-day moving average price is $15.60 and its 200 day moving average price is $12.42. The firm has a market cap of $4.29 billion and a price-to-earnings ratio of -2.84. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63.

Analysts Set New Price Targets

CORZ has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a research note on Thursday, October 3rd. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Roth Mkm began coverage on shares of Core Scientific in a research note on Friday, November 15th. They set a “buy” rating and a $25.50 price objective for the company. Macquarie raised their target price on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Compass Point upped their price target on Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.46.

Institutional Investors Weigh In On Core Scientific

Several hedge funds have recently bought and sold shares of the stock. P Schoenfeld Asset Management LP acquired a new position in shares of Core Scientific in the 2nd quarter valued at $4,185,000. Mirabella Financial Services LLP acquired a new position in shares of Core Scientific in the third quarter worth about $18,383,000. Highland Peak Capital LLC boosted its stake in shares of Core Scientific by 37.9% during the 3rd quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock worth $4,905,000 after acquiring an additional 113,584 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Core Scientific by 22.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after acquiring an additional 300,942 shares during the period. Finally, Capstone Investment Advisors LLC increased its stake in shares of Core Scientific by 113.4% in the 3rd quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company’s stock valued at $652,000 after purchasing an additional 29,230 shares in 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.