Core Scientific (NASDAQ:CORZ) Stock Price Down 5.1%

Core Scientific, Inc. (NASDAQ:CORZ)’s stock price fell 5.1% during mid-day trading on Wednesday . The company traded as low as $3.30 and last traded at $3.32. 1,027,346 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 3,263,914 shares. The stock had previously closed at $3.50.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CORZ. Compass Point raised Core Scientific from a “neutral” rating to a “buy” rating and boosted their target price for the company from $1.00 to $8.50 in a report on Wednesday, January 31st. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Core Scientific in a report on Wednesday, March 13th.

Core Scientific Trading Up 0.6 %

The stock has a fifty day moving average of $3.40 and a two-hundred day moving average of $2.05.

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

Insider Buying and Selling

In other news, CEO Adam Taylor Sullivan bought 65,300 shares of the stock in a transaction on Friday, March 15th. The shares were bought at an average price of $3.06 per share, with a total value of $199,818.00. Following the completion of the acquisition, the chief executive officer now owns 93,753 shares of the company’s stock, valued at $286,884.18. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Adam Taylor Sullivan purchased 65,300 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $3.06 per share, for a total transaction of $199,818.00. Following the completion of the transaction, the chief executive officer now directly owns 93,753 shares in the company, valued at approximately $286,884.18. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eric Stanton Weiss purchased 15,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $3.03 per share, with a total value of $45,450.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $45,450. The disclosure for this purchase can be found here. 32.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Core Scientific

Large investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC acquired a new stake in shares of Core Scientific during the first quarter valued at $34,000. Lindbrook Capital LLC acquired a new stake in shares of Core Scientific during the first quarter valued at $65,000. Finally, Fiduciary Alliance LLC acquired a new stake in shares of Core Scientific during the first quarter valued at $84,000.

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.