Investors Purchase Large Volume of Core Scientific Call Options (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the target of unusually large options trading activity on Thursday. Investors bought 245,917 call options on the stock. This is an increase of approximately 83% compared to the typical daily volume of 134,144 call options.

Core Scientific Trading Down 1.4%

Shares of NASDAQ:CORZ opened at $19.67 on Friday. The company has a 50 day moving average of $15.90 and a 200 day moving average of $12.80. The stock has a market cap of $6.05 billion, a P/E ratio of -35.13 and a beta of 6.58. Core Scientific has a 12 month low of $6.20 and a 12 month high of $20.36.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $78.63 million for the quarter, compared to analysts’ expectations of $82.09 million. The firm’s quarterly revenue was down 44.3% compared to the same quarter last year. On average, equities analysts forecast that Core Scientific will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on CORZ. JMP Securities reaffirmed a “market perform” rating on shares of Core Scientific in a research report on Tuesday, August 12th. Craig Hallum lowered shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 7th. Compass Point began coverage on shares of Core Scientific in a research report on Monday, September 15th. They issued a “buy” rating on the stock. Roth Mkm reissued a “buy” rating and issued a $20.00 price target on shares of Core Scientific in a research report on Thursday, June 26th. Finally, B. Riley lowered shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.71.

Hedge Funds Weigh In On Core Scientific

Several hedge funds have recently bought and sold shares of the company. Connective Portfolio Management LLC purchased a new position in Core Scientific during the third quarter valued at approximately $607,000. Tactive Advisors LLC grew its stake in Core Scientific by 30.7% during the third quarter. Tactive Advisors LLC now owns 19,402 shares of the company’s stock valued at $348,000 after acquiring an additional 4,553 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Core Scientific by 56.3% during the third quarter. Exchange Traded Concepts LLC now owns 1,055,801 shares of the company’s stock valued at $18,941,000 after acquiring an additional 380,256 shares in the last quarter. Sanders Morris Harris LLC grew its stake in Core Scientific by 2,786.5% during the third quarter. Sanders Morris Harris LLC now owns 308,855 shares of the company’s stock valued at $5,190,000 after acquiring an additional 298,155 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in Core Scientific by 112.1% during the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after acquiring an additional 1,066 shares in the last quarter.

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.