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

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 68,655 call options on the stock. This is an increase of approximately 50% compared to the average volume of 45,810 call options.

Insider Transactions at Core Scientific

In other news, Director Jarrod M. Patten bought 4,000 shares of Core Scientific stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average cost of $9.70 per share, with a total value of $38,800.00. Following the completion of the acquisition, the director now owns 279,239 shares of the company’s stock, valued at $2,708,618.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $82,356.32. Following the sale, the chief financial officer now directly owns 122,217 shares in the company, valued at $1,150,061.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jarrod M. Patten acquired 4,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was bought at an average cost of $9.70 per share, with a total value of $38,800.00. Following the completion of the purchase, the director now directly owns 279,239 shares in the company, valued at approximately $2,708,618.30. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 12,761 shares of company stock valued at $127,080.

Hedge Funds Weigh In On Core Scientific

Several hedge funds have recently made changes to their positions in the company. Capstone Investment Advisors LLC acquired a new position in shares of Core Scientific in the first quarter valued at about $307,000. Concurrent Investment Advisors LLC acquired a new position in Core Scientific in the 1st quarter worth approximately $417,000. Barings LLC purchased a new position in Core Scientific during the 1st quarter worth approximately $36,515,000. Blair William & Co. IL acquired a new stake in Core Scientific during the 1st quarter valued at approximately $1,156,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Core Scientific in the 1st quarter valued at $122,000.

Analyst Ratings Changes

CORZ has been the subject of several recent analyst reports. Compass Point boosted their target price on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 target price on shares of Core Scientific in a research report on Thursday, October 3rd. Jefferies Financial Group began coverage on Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective on the stock. Sanford C. Bernstein reissued an “outperform” rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, September 10th. Finally, B. Riley lifted their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday. Twelve equities research 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 an average target price of $17.21.

Core Scientific Stock Performance

Shares of CORZ stock opened at $16.46 on Friday. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $16.70. The stock’s 50-day simple moving average is $12.21 and its 200-day simple moving average is $9.30.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) 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 analyst estimates of $128.58 million. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts anticipate that Core Scientific will post 0.81 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.