Core Scientific (NASDAQ:CORZ) Trading Up 9%

Core Scientific, Inc. (NASDAQ:CORZ) shares traded up 9% during trading on Thursday . The stock traded as high as $3.29 and last traded at $3.27. 981,660 shares traded hands during trading, a decline of 69% from the average session volume of 3,166,052 shares. The stock had previously closed at $3.00.

Analyst Upgrades and Downgrades

CORZ has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Core Scientific in a research note on Wednesday, March 13th. Compass Point raised Core Scientific from a “neutral” rating to a “buy” rating and increased their target price for the stock from $1.00 to $8.50 in a report on Wednesday, January 31st.

Core Scientific Stock Performance

The firm’s fifty day moving average price is $3.37 and its 200-day moving average price is $2.16.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Tuesday, March 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.17). The business had revenue of $141.93 million during the quarter, compared to analyst estimates of $133.10 million. Research analysts predict that Core Scientific, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In related news, CEO Adam Taylor Sullivan bought 65,300 shares of the business’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $3.06 per share, with a total value of $199,818.00. Following the acquisition, the chief executive officer now owns 93,753 shares of the company’s stock, valued at $286,884.18. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, Director Eric Stanton Weiss bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $3.03 per share, for a total transaction of $45,450.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at $45,450. The transaction 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 company’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost 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. Insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Several institutional investors have recently added to or reduced their stakes in the business. Fiduciary Alliance LLC acquired a new position in shares of Core Scientific during the 1st quarter valued at $84,000. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific during the 1st quarter worth about $34,000. Lindbrook Capital LLC acquired a new stake in shares of Core Scientific in the 1st quarter valued at about $65,000. Perigon Wealth Management LLC bought a new stake in Core Scientific in the 1st quarter valued at about $688,000. Finally, Capstone Investment Advisors LLC acquired a new position in Core Scientific during the 1st quarter worth approximately $307,000.

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.