Traders Buy Large Volume of Call Options on Core Scientific (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZGet Free Report) saw unusually large options trading activity on Monday. Investors purchased 160,780 call options on the company. This represents an increase of approximately 202% compared to the average volume of 53,189 call options.

Core Scientific Price Performance

Shares of CORZ opened at $11.31 on Wednesday. The business’s 50 day simple moving average is $15.37 and its 200-day simple moving average is $13.03. 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 $3.16 billion and a price-to-earnings ratio of -2.09.

Core Scientific (NASDAQ:CORZGet Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $95.35 million for the quarter, compared to analyst estimates of $94.80 million. On average, sell-side analysts expect that Core Scientific will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 25,000 shares of Core Scientific stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total value of $427,500.00. Following the completion of the sale, the insider now owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. This trade represents a 1.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $6,004,122.88. Following the sale, the chief executive officer now directly owns 3,758,793 shares in the company, valued at $61,042,798.32. This trade represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 744,032 shares of company stock worth $11,863,966 in the last quarter. Corporate insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Core Scientific by 25.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock valued at $1,378,000 after purchasing an additional 20,000 shares during the last quarter. Highland Peak Capital LLC lifted its holdings in shares of Core Scientific by 37.9% in the 3rd quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock worth $4,905,000 after acquiring an additional 113,584 shares during the last quarter. Mirabella Financial Services LLP purchased a new position in shares of Core Scientific during the 3rd quarter worth about $18,383,000. Van ECK Associates Corp grew its holdings in Core Scientific by 22.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after purchasing an additional 300,942 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its position in Core Scientific by 113.4% in the 3rd quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company’s stock worth $652,000 after purchasing an additional 29,230 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CORZ shares. B. Riley boosted their target price on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BTIG Research boosted their price target on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods began coverage on shares of Core Scientific in a research report on Monday. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Compass Point upped their price target on Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $19.07.

Read Our Latest Stock Analysis on CORZ

Core Scientific Company Profile

(Get Free Report)

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.

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