Stock Traders Buy Large Volume of Core Scientific Put Options (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) saw unusually large options trading activity on Tuesday. Traders bought 18,061 put options on the company. This is an increase of approximately 300% compared to the average volume of 4,513 put options.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CORZ. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific during the 1st quarter valued at $34,000. Fiduciary Alliance LLC bought a new position in shares of Core Scientific during the first quarter valued at about $84,000. Perigon Wealth Management LLC purchased a new position in shares of Core Scientific in the first quarter worth about $688,000. Finally, Lindbrook Capital LLC bought a new stake in shares of Core Scientific in the 1st quarter valued at about $65,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CORZ. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Core Scientific in a report on Wednesday, March 13th. 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.

Core Scientific Price Performance

Shares of NASDAQ:CORZ traded down $0.18 during trading on Tuesday, reaching $2.99. The company had a trading volume of 1,547,134 shares, compared to its average volume of 3,213,277. The company has a fifty day moving average of $3.38 and a two-hundred day moving average of $2.11. Core Scientific has a 12 month low of $2.61 and a 12 month high of $6.10.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.17). The business had revenue of $141.93 million during the quarter, compared to analysts’ expectations of $133.10 million. On average, equities research analysts anticipate that Core Scientific will post -0.17 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.