Stock Traders Buy High Volume of Call Options on Core Scientific (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the target of unusually large options trading on Monday. Investors acquired 160,780 call options on the company. This represents an increase of 202% compared to the typical daily volume of 53,189 call options.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 129,861 shares of Core Scientific stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the sale, the insider now owns 2,051,649 shares of the company’s stock, valued at $29,215,481.76. The trade was a 5.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 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 $1,258,531.20. Following the completion of the transaction, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,043 shares of company stock worth $5,449,345. 32.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Core Scientific

Institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new stake in Core Scientific during the second quarter valued at approximately $33,000. Rise Advisors LLC raised its stake in Core Scientific by 14.3% during the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after acquiring an additional 1,000 shares in the last quarter. Xponance Inc. bought a new position in shares of Core Scientific during the second quarter valued at $104,000. KBC Group NV acquired a new stake in shares of Core Scientific in the 4th quarter valued at $114,000. Finally, Amalgamated Bank bought a new stake in shares of Core Scientific in the 2nd quarter worth about $115,000.

Core Scientific Stock Performance

Shares of Core Scientific stock traded down $5.17 during trading on Monday, reaching $10.81. The company’s stock had a trading volume of 32,891,403 shares, compared to its average volume of 9,922,646. The business’s fifty day moving average price is $15.56 and its 200-day moving average price is $13.01. The firm has a market cap of $3.02 billion and a price-to-earnings ratio of -2.00. Core Scientific has a one year low of $2.61 and a one year high of $18.63.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $94.80 million. Sell-side analysts anticipate that Core Scientific will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

CORZ has been the subject of a number of recent analyst reports. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Macquarie upped their price target on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Jefferies Financial Group began coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective on the stock. Roth Mkm began coverage on Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 target price for the company. Finally, Compass Point lifted their target price on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Core Scientific has a consensus rating of “Buy” and an average price target of $19.07.

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.