Jarrod M. Patten Purchases 2,240 Shares of Core Scientific, Inc. (NASDAQ:CORZ) Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Jarrod M. Patten purchased 2,240 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $11.05 per share, with a total value of $24,752.00. Following the completion of the acquisition, the director now owns 300,000 shares in the company, valued at approximately $3,315,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Core Scientific Stock Up 2.7 %

Shares of CORZ stock opened at $11.48 on Wednesday. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $12.25. The stock’s fifty day moving average price is $10.07 and its two-hundred day moving average price is $6.90.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CORZ. Barings LLC acquired a new stake in shares of Core Scientific in the first quarter valued at about $36,515,000. Vanguard Group Inc. bought a new position in Core Scientific during the 1st quarter worth approximately $21,973,000. Kensico Capital Management Corp acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $18,513,000. Van ECK Associates Corp bought a new stake in shares of Core Scientific in the 2nd quarter valued at $12,239,000. Finally, Vident Advisory LLC acquired a new stake in shares of Core Scientific during the first quarter worth $4,047,000.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CORZ shares. HC Wainwright boosted their target price on shares of Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $17.00 target price on shares of Core Scientific in a report on Tuesday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a research note on Tuesday, September 3rd. B. Riley upgraded Core Scientific from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $0.50 to $13.00 in a research note on Wednesday, July 17th. Finally, LADENBURG THALM/SH SH reiterated a “buy” rating and set a $14.50 target price on shares of Core Scientific in a research report on Tuesday, July 2nd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $14.88.

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.