Investors Buy High Volume of Core Scientific Call Options (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) saw unusually large options trading activity on Wednesday. Traders bought 63,744 call options on the stock. This represents an increase of approximately 384% compared to the average daily volume of 13,162 call options.

Core Scientific Trading Down 8.0 %

Shares of NASDAQ:CORZ opened at $8.91 on Wednesday. The firm has a fifty day moving average price of $4.76 and a 200 day moving average price of $3.33. Core Scientific has a 1-year low of $2.61 and a 1-year high of $10.70.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Core Scientific

A number of large investors have recently bought and sold shares of CORZ. Barings LLC purchased a new position in Core Scientific during the 1st quarter worth $36,515,000. Vanguard Group Inc. purchased a new position in shares of Core Scientific in the 1st quarter valued at about $21,973,000. Kensico Capital Management Corp purchased a new position in shares of Core Scientific in the 1st quarter valued at about $18,513,000. Vident Advisory LLC purchased a new position in shares of Core Scientific in the 1st quarter valued at about $4,047,000. Finally, Blair William & Co. IL purchased a new position in shares of Core Scientific in the 1st quarter valued at about $1,156,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CORZ shares. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Core Scientific in a report on Wednesday, March 13th. BTIG Research upped their target price on shares of Core Scientific from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, June 6th.

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.