Core Scientific (NASDAQ:CORZ) Director Elizabeth Crain Acquires 6,000 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Elizabeth Crain acquired 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average price of $18.33 per share, with a total value of $109,980.00. Following the acquisition, the director owned 71,348 shares of the company’s stock, valued at approximately $1,307,808.84. This trade represents a 9.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Core Scientific Stock Performance

CORZ opened at $17.27 on Tuesday. The firm’s fifty day moving average is $22.75 and its two-hundred day moving average is $21.01. The firm has a market cap of $5.55 billion, a PE ratio of -3.91 and a beta of 5.59. Core Scientific, Inc. has a twelve month low of $13.14 and a twelve month high of $30.46.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The firm had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. Equities analysts forecast that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Core Scientific

A number of large investors have recently bought and sold shares of CORZ. California State Teachers Retirement System raised its holdings in shares of Core Scientific by 2,488.6% in the second quarter. California State Teachers Retirement System now owns 7,479,420 shares of the company’s stock valued at $191,398,000 after purchasing an additional 7,190,484 shares during the last quarter. Rose Capital Advisors LLC acquired a new position in Core Scientific during the second quarter worth $324,000. AlphaGrep UK Ltd acquired a new position in Core Scientific during the second quarter worth $223,000. Concurrent Investment Advisors LLC boosted its holdings in Core Scientific by 10.6% during the second quarter. Concurrent Investment Advisors LLC now owns 401,348 shares of the company’s stock worth $10,270,000 after purchasing an additional 38,497 shares during the last quarter. Finally, AXQ Capital LP grew its position in Core Scientific by 122.7% in the second quarter. AXQ Capital LP now owns 55,149 shares of the company’s stock valued at $1,411,000 after purchasing an additional 30,380 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently issued reports on CORZ. Jefferies Financial Group increased their target price on Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Capital One Financial set a $33.00 price target on shares of Core Scientific in a report on Thursday, July 30th. Canaccord Genuity Group increased their price objective on shares of Core Scientific from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Loop Capital set a $40.00 price objective on shares of Core Scientific in a report on Friday, June 12th. Finally, Keefe, Bruyette & Woods raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $25.00 to $28.00 in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.18.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.