Core Scientific Target of Unusually High Options Trading (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) saw some unusual options trading on Wednesday. Investors purchased 59,204 call options on the company. This is an increase of 53% compared to the average volume of 38,649 call options.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 7,321 shares of Core Scientific stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the completion of the sale, the insider now owns 359,877 shares in the company, valued at $3,379,245.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.41, for a total value of $108,986.62. Following the completion of the transaction, the insider now owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Todd M. Duchene sold 7,321 shares of Core Scientific stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the transaction, the insider now directly owns 359,877 shares of the company’s stock, valued at approximately $3,379,245.03. The disclosure for this sale can be found here. In the last three months, insiders have acquired 12,761 shares of company stock valued at $127,080 and have sold 27,655 shares valued at $260,087. 32.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Core Scientific

A number of large investors have recently added to or reduced their stakes in CORZ. Barings LLC bought a new position in shares of Core Scientific in the first quarter valued at $36,515,000. Vanguard Group Inc. acquired a new position in shares of Core Scientific in the 1st quarter worth $21,973,000. Kensico Capital Management Corp acquired a new stake in shares of Core Scientific during the first quarter worth $18,513,000. Van ECK Associates Corp purchased a new stake in shares of Core Scientific during the second quarter valued at $12,239,000. Finally, Vident Advisory LLC acquired a new position in shares of Core Scientific in the 1st quarter valued at $4,047,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. HC Wainwright increased their price objective on shares of Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. B. Riley raised Core Scientific from a “neutral” rating to a “buy” rating and raised their price target for the stock from $0.50 to $13.00 in a report on Wednesday, July 17th. BTIG Research upped their price objective on Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $14.50 target price on shares of Core Scientific in a research report on Tuesday, July 2nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, September 10th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $14.88.

Core Scientific Trading Up 4.8 %

Shares of NASDAQ:CORZ traded up $0.55 during trading on Wednesday, reaching $12.03. The company had a trading volume of 16,789,679 shares, compared to its average volume of 8,457,729. Core Scientific has a twelve month low of $2.61 and a twelve month high of $12.48. The firm’s fifty day moving average is $10.07 and its 200 day moving average is $6.90.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The firm had revenue of $141.10 million during the quarter, compared to analyst estimates of $128.58 million. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts anticipate that Core Scientific will post 0.01 earnings per share for the current fiscal year.

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.