Investors Purchase Large Volume of Core Scientific Call Options (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of unusually large options trading on Tuesday. Traders acquired 145,508 call options on the company. This is an increase of approximately 132% compared to the average daily volume of 62,779 call options.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the completion of the sale, the director now owns 195,687 shares of the company’s stock, valued at approximately $2,103,635.25. The trade was a 40.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the sale, the chief executive officer now directly owns 3,758,793 shares of the company’s stock, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 748,282 shares of company stock valued at $10,978,104 in the last quarter. 32.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Core Scientific

Institutional investors and hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Core Scientific in the fourth quarter valued at approximately $8,827,000. Neo Ivy Capital Management boosted its holdings in Core Scientific by 731.2% during the fourth quarter. Neo Ivy Capital Management now owns 135,642 shares of the company’s stock worth $1,905,000 after buying an additional 119,324 shares in the last quarter. Two Seas Capital LP boosted its holdings in Core Scientific by 9.2% during the fourth quarter. Two Seas Capital LP now owns 6,232,888 shares of the company’s stock worth $87,572,000 after buying an additional 527,097 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Core Scientific by 76.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 394,999 shares of the company’s stock worth $5,550,000 after buying an additional 171,461 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Core Scientific by 4.5% during the fourth quarter. Voloridge Investment Management LLC now owns 4,048,932 shares of the company’s stock worth $56,887,000 after buying an additional 175,587 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CORZ shares. Roth Capital upgraded Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. Needham & Company LLC decreased their price objective on Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Macquarie boosted their target price on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. BTIG Research boosted their target price on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Keefe, Bruyette & Woods started coverage on Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 price objective on the stock. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Core Scientific currently has a consensus rating of “Buy” and a consensus target price of $19.07.

Core Scientific Trading Up 3.7 %

NASDAQ:CORZ opened at $8.95 on Thursday. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -1.65 and a beta of 6.83. The firm’s fifty day simple moving average is $12.32 and its 200 day simple moving average is $13.24. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. The firm had revenue of $94.93 million for the quarter, compared to analysts’ expectations of $97.07 million. On average, analysts predict that Core Scientific will post 0.52 earnings per share for the current year.

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.