Core Scientific (NASDAQ:CORZ) Trading Up 9.8%

Core Scientific, Inc. (NASDAQ:CORZ)’s stock price rose 9.8% on Thursday . The company traded as high as $3.86 and last traded at $3.82. Approximately 7,443,111 shares traded hands during trading, an increase of 136% from the average daily volume of 3,152,095 shares. The stock had previously closed at $3.48.

Analysts Set New Price Targets

A number of brokerages recently commented on CORZ. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Core Scientific in a research note on Wednesday, March 13th. Compass Point upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and upped their price target for the stock from $1.00 to $8.50 in a research report on Wednesday, January 31st.

Core Scientific Stock Performance

The company has a fifty day simple moving average of $3.36 and a 200-day simple moving average of $2.23.

Core Scientific (NASDAQ:CORZ) last announced 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 business had revenue of $141.93 million during the quarter, compared to analysts’ expectations of $133.10 million. Equities analysts expect that Core Scientific, Inc. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Core Scientific

Several hedge funds have recently added to or reduced their stakes in CORZ. Hexagon Capital Partners LLC acquired a new position in shares of Core Scientific during the first quarter valued at about $34,000. Lindbrook Capital LLC acquired a new position in shares of Core Scientific in the 1st quarter valued at $65,000. Fiduciary Alliance LLC bought a new position in shares of Core Scientific during the 1st quarter worth about $84,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Core Scientific during the 1st quarter valued at about $122,000. Finally, Capstone Investment Advisors LLC bought a new stake in Core Scientific in the first quarter valued at about $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.