Core Scientific Sees Unusually High Options Volume (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) saw unusually large options trading on Wednesday. Stock traders bought 59,204 call options on the stock. This represents an increase of 53% compared to the average daily volume of 38,649 call options.

Insider Buying and Selling

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

Institutional Trading of Core Scientific

Several hedge funds and other institutional investors have recently modified their holdings of CORZ. Vanguard Group Inc. bought a new position in shares of Core Scientific in the 1st quarter valued at about $21,973,000. Hexagon Capital Partners LLC acquired a new position in shares of Core Scientific during the 1st quarter worth approximately $34,000. Blair William & Co. IL bought a new stake in shares of Core Scientific during the 1st quarter worth approximately $1,156,000. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Core Scientific in the 2nd quarter valued at approximately $1,218,000. Finally, Vident Advisory LLC bought a new position in shares of Core Scientific in the first quarter valued at $4,047,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CORZ. HC Wainwright increased their price target on Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Sanford C. Bernstein reissued an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Tuesday, September 10th. BTIG Research lifted their price objective on Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. B. Riley raised shares of Core Scientific from a “neutral” rating to a “buy” rating and upped their price target for the stock from $0.50 to $13.00 in a research report on Wednesday, July 17th. Finally, Needham & Company LLC started coverage on Core Scientific in a research note on Wednesday, September 4th. They issued a “buy” rating and a $16.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $14.88.

Core Scientific Stock Down 3.5 %

NASDAQ CORZ opened at $11.61 on Friday. Core Scientific has a 1-year low of $2.61 and a 1-year high of $12.63. The stock’s 50 day moving average is $10.15 and its two-hundred day moving average is $6.97.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The business had revenue of $141.10 million during the quarter, compared to the consensus estimate of $128.58 million. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Research analysts predict 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.