Core Scientific (NASDAQ:CORZ) Director Eric Stanton Weiss Buys 5,000 Shares

Core Scientific, Inc. (NASDAQ:CORZ) Director Eric Stanton Weiss acquired 5,000 shares of Core Scientific stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average price of $21.50 per share, with a total value of $107,500.00. Following the completion of the transaction, the director owned 226,687 shares of the company’s stock, valued at approximately $4,873,770.50. This trade represents a 2.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Core Scientific Price Performance

Shares of NASDAQ CORZ traded down $1.21 during midday trading on Thursday, hitting $20.59. 17,568,499 shares of the company’s stock were exchanged, compared to its average volume of 16,454,129. The stock’s 50 day moving average price is $17.69 and its 200-day moving average price is $14.20. The firm has a market cap of $6.38 billion, a P/E ratio of 137.28 and a beta of 6.59. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $23.63.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.39. The business had revenue of $81.10 million for the quarter, compared to analyst estimates of $107.18 million. On average, analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CORZ. KBC Group NV raised its stake in Core Scientific by 34.7% during the 1st quarter. KBC Group NV now owns 10,887 shares of the company’s stock valued at $79,000 after purchasing an additional 2,805 shares during the period. Teacher Retirement System of Texas acquired a new stake in Core Scientific during the 1st quarter valued at $234,000. Bank of New York Mellon Corp raised its stake in Core Scientific by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 876,809 shares of the company’s stock valued at $6,348,000 after purchasing an additional 42,732 shares during the period. Envestnet Asset Management Inc. raised its stake in Core Scientific by 16.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 141,399 shares of the company’s stock valued at $1,024,000 after purchasing an additional 19,898 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Core Scientific during the 1st quarter valued at $38,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a research report on Wednesday, October 8th. B. Riley upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, October 22nd. Jefferies Financial Group set a $24.00 target price on Core Scientific and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Cantor Fitzgerald upped their target price on Core Scientific from $18.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Finally, Needham & Company LLC downgraded Core Scientific from a “moderate buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.39.

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.