Core Scientific, Inc. (NASDAQ:CORZ) Insider Sells $1,849,220.64 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the completion of the transaction, the insider now directly owns 2,051,649 shares of the company’s stock, valued at approximately $29,215,481.76. This represents a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Core Scientific Stock Up 6.2 %

CORZ opened at $15.38 on Friday. The stock has a market cap of $4.29 billion and a P/E ratio of -2.84. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The company has a fifty day simple moving average of $15.60 and a 200 day simple moving average of $12.42.

Institutional Investors Weigh In On Core Scientific

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in shares of Core Scientific by 3,236.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 674,043 shares of the company’s stock valued at $6,269,000 after purchasing an additional 653,838 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Core Scientific during the 2nd quarter worth approximately $211,000. Banque Cantonale Vaudoise bought a new position in Core Scientific in the second quarter valued at approximately $28,000. Rhumbline Advisers acquired a new position in shares of Core Scientific in the second quarter valued at approximately $2,233,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Core Scientific during the second quarter worth $175,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CORZ shares. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research note on Thursday, November 7th. Canaccord Genuity Group started coverage on Core Scientific in a research report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price objective for the company. Macquarie boosted their price objective on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC raised their target price on shares of Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.46.

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.