Core Scientific (NASDAQ:CORZ) Stock Price Up 5.9%

Core Scientific, Inc. (NASDAQ:CORZ)’s share price shot up 5.9% during mid-day trading on Thursday . The company traded as high as $2.91 and last traded at $2.86. 508,386 shares changed hands during trading, a decline of 84% from the average session volume of 3,221,217 shares. The stock had previously closed at $2.70.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CORZ. HC Wainwright reiterated a “buy” rating and set a $5.00 target price 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 increased their price objective for the stock from $1.00 to $8.50 in a report on Wednesday, January 31st.

Core Scientific Trading Up 7.6 %

The business’s fifty day simple moving average is $3.43 and its 200 day simple moving average is $1.98.

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 the consensus estimate of ($0.03) by ($0.17). The firm had revenue of $141.93 million for the quarter, compared to the consensus estimate of $133.10 million. On average, equities analysts forecast that Core Scientific, Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Core Scientific

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Core Scientific during the 1st quarter worth approximately $56,000. Hexagon Capital Partners LLC acquired a new stake in shares of Core Scientific in the first quarter valued at approximately $34,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Core Scientific in the first quarter valued at approximately $110,000. Vident Investment Advisory LLC acquired a new stake in shares of Core Scientific in the first quarter valued at approximately $119,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Core Scientific in the second quarter valued at approximately $28,000.

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.