Core Scientific (NASDAQ:CORZ) Trading Down 4.7% on Insider Selling

Core Scientific, Inc. (NASDAQ:CORZ) shares fell 4.7% on Monday following insider selling activity. The company traded as low as $9.83 and last traded at $9.84. 866,189 shares traded hands during trading, a decline of 84% from the average session volume of 5,444,965 shares. The stock had previously closed at $10.33.

Specifically, insider Todd M. Duchene sold 3,770 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total value of $37,662.30. Following the transaction, the insider now directly owns 393,428 shares in the company, valued at approximately $3,930,345.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Analyst Ratings Changes

A number of research firms have recently issued reports on CORZ. BTIG Research raised their price target on Core Scientific from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Core Scientific in a report on Wednesday, March 13th.

Core Scientific Stock Down 8.0 %

The stock has a fifty day moving average of $4.76 and a 200 day moving average of $3.33.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The business had revenue of $179.29 million for the quarter, compared to the consensus estimate of $139.60 million. On average, analysts anticipate that Core Scientific, Inc. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Core Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of CORZ. Fiduciary Alliance LLC bought a new stake in shares of Core Scientific in the first quarter worth about $84,000. Hexagon Capital Partners LLC bought a new stake in shares of Core Scientific in the first quarter worth about $34,000. Lindbrook Capital LLC bought a new stake in shares of Core Scientific in the first quarter worth about $65,000. Perigon Wealth Management LLC bought a new stake in shares of Core Scientific in the first quarter worth about $688,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Core Scientific in the first quarter worth about $307,000.

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.