Core Scientific (NASDAQ:CORZ) Trading Down 5.7%

Core Scientific, Inc. (NASDAQ:CORZ) was down 5.7% during mid-day trading on Tuesday . The stock traded as low as $2.98 and last traded at $2.99. Approximately 617,133 shares were traded during trading, a decline of 81% from the average daily volume of 3,196,002 shares. The stock had previously closed at $3.17.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CORZ shares. Compass Point upgraded Core Scientific from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $1.00 to $8.50 in a research report on Wednesday, January 31st. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Core Scientific in a report on Wednesday, March 13th.

Core Scientific Price Performance

The firm has a 50-day moving average of $3.38 and a two-hundred day moving average of $2.11.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Tuesday, March 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.17). The company had revenue of $141.93 million during the quarter, compared to analyst estimates of $133.10 million. As a group, analysts predict that Core Scientific, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Core Scientific

In related news, Director Eric Stanton Weiss acquired 15,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $3.03 per share, with a total value of $45,450.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $45,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Adam Taylor Sullivan purchased 65,300 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $3.06 per share, for a total transaction of $199,818.00. Following the completion of the purchase, the chief executive officer now owns 93,753 shares of the company’s stock, valued at $286,884.18. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric Stanton Weiss purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $3.03 per share, with a total value of $45,450.00. Following the completion of the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $45,450. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds have recently bought and sold shares of the company. Fiduciary Alliance LLC bought a new position in shares of Core Scientific during the first quarter valued at approximately $84,000. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific during the first quarter valued at approximately $34,000. Lindbrook Capital LLC acquired a new position in shares of Core Scientific during the first quarter worth approximately $65,000. Finally, Perigon Wealth Management LLC acquired a new position in shares of Core Scientific during the first quarter worth approximately $688,000.

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.