Core Scientific Target of Unusually High Options Trading (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the target of unusually large options trading activity on Friday. Traders acquired 30,153 call options on the stock. This is an increase of approximately 75% compared to the typical daily volume of 17,256 call options.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 7,321 shares of Core Scientific stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the completion of the transaction, the insider now owns 359,877 shares in the company, valued at $3,379,245.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total value of $68,744.19. Following the completion of the sale, the insider now directly owns 359,877 shares in the company, valued at $3,379,245.03. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Todd M. Duchene sold 3,770 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $9.99, for a total transaction of $37,662.30. Following the transaction, the insider now owns 393,428 shares in the company, valued at approximately $3,930,345.72. The disclosure for this sale can be found here.

Institutional Trading of Core Scientific

A number of hedge funds have recently modified their holdings of CORZ. Aspect Partners LLC acquired a new position in Core Scientific in the first quarter valued at about $29,000. Hexagon Capital Partners LLC acquired a new position in shares of Core Scientific in the 1st quarter valued at approximately $34,000. Lindbrook Capital LLC bought a new stake in Core Scientific during the 1st quarter worth approximately $65,000. Fiduciary Alliance LLC acquired a new stake in Core Scientific during the 1st quarter worth approximately $84,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in Core Scientific in the first quarter valued at approximately $122,000.

Wall Street Analysts Forecast Growth

CORZ has been the topic of several research reports. HC Wainwright upped their price objective on Core Scientific from $5.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. BTIG Research upped their price target on Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $14.50 price objective on shares of Core Scientific in a research report on Tuesday.

Core Scientific Stock Performance

Shares of Core Scientific stock traded up $0.09 on Friday, hitting $10.21. 5,682,560 shares of the company’s stock traded hands, compared to its average volume of 6,692,504. The firm’s 50-day moving average price is $6.30 and its two-hundred day moving average price is $4.03. Core Scientific has a one year low of $2.61 and a one year high of $10.70.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The company had revenue of $179.29 million during the quarter, compared to the consensus estimate of $139.60 million. As a group, equities research analysts predict that Core Scientific will post -0.8 EPS for the current year.

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.