Core Scientific (NASDAQ:CORZ) Trading Down 5.7%

Core Scientific, Inc. (NASDAQ:CORZ) traded down 5.7% on Tuesday . The company traded as low as $2.98 and last traded at $2.99. 617,133 shares changed hands during trading, a decline of 81% from the average session volume of 3,196,002 shares. The stock had previously closed at $3.17.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Core Scientific in a research report on Wednesday, March 13th. Compass Point raised shares of Core Scientific from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $1.00 to $8.50 in a research report on Wednesday, January 31st.

Core Scientific Trading Down 5.7 %

The business’s 50-day moving average price is $3.38 and its two-hundred day moving average price is $2.11.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data 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 analyst estimates of $133.10 million. On average, research analysts anticipate that Core Scientific, Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Core Scientific

Several hedge funds and other institutional investors have recently modified their holdings of CORZ. Perigon Wealth Management LLC bought a new stake in Core Scientific in the 1st quarter valued at about $688,000. Lindbrook Capital LLC bought a new stake in Core Scientific in the 1st quarter valued at about $65,000. Hexagon Capital Partners LLC bought a new stake in Core Scientific in the 1st quarter valued at about $34,000. Finally, Fiduciary Alliance LLC bought a new stake in Core Scientific in the 1st quarter valued at about $84,000.

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.