Traders Purchase High Volume of Call Options on Core Scientific (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of some unusual options trading on Monday. Stock traders purchased 135,614 call options on the stock. This is an increase of approximately 178% compared to the typical daily volume of 48,797 call options.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $16.42 on Wednesday. Core Scientific has a 1 year low of $2.61 and a 1 year high of $18.63. The stock has a market capitalization of $4.59 billion and a price-to-earnings ratio of -3.04. The company’s 50 day simple moving average is $14.41 and its 200 day simple moving average is $11.09.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the transaction, the insider now owns 1,661,474 shares of the company’s stock, valued at $28,411,205.40. The trade was a 1.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yadin Rozov sold 105,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total value of $1,901,550.00. Following the completion of the sale, the director now directly owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. The trade was a 23.32 % decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of Core Scientific

Several institutional investors and hedge funds have recently modified their holdings of the business. ORG Wealth Partners LLC bought a new stake in shares of Core Scientific during the third quarter worth $106,266,000. Vanguard Group Inc. acquired a new stake in shares of Core Scientific during the 1st quarter valued at $21,973,000. Parsifal Capital Management LP grew its position in Core Scientific by 3.9% during the 3rd quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock worth $64,196,000 after acquiring an additional 204,314 shares during the last quarter. Geode Capital Management LLC increased its holdings in Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after purchasing an additional 1,113,285 shares in the last quarter. Finally, State Street Corp raised its position in Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after purchasing an additional 583,493 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on CORZ shares. Compass Point lifted their price objective on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group started coverage on shares of Core Scientific in a report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price target on the stock. Needham & Company LLC boosted their price objective on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Macquarie increased their target price on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, Jefferies Financial Group began coverage on Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective on the stock. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.38.

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.