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

Core Scientific, Inc. (NASDAQ:CORZ) was the target of unusually large options trading on Friday. Stock traders purchased 445,716 call options on the company. This is an increase of approximately 204% compared to the typical daily volume of 146,799 call options.

Core Scientific Stock Down 0.1%

Shares of CORZ opened at $20.74 on Friday. Core Scientific has a 12 month low of $6.20 and a 12 month high of $22.12. The company has a 50-day moving average price of $16.92 and a two-hundred day moving average price of $13.68. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 138.28 and a beta of 6.58.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.39. The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $107.18 million. Equities research analysts expect that Core Scientific will post 0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. HHM Wealth Advisors LLC raised its stake in shares of Core Scientific by 96.5% in the second quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock valued at $33,000 after acquiring an additional 946 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Core Scientific by 112.1% in 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 during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Core Scientific by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock valued at $46,000 after acquiring an additional 1,092 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Core Scientific by 11.7% in the first quarter. Wellington Management Group LLP now owns 11,967 shares of the company’s stock valued at $87,000 after acquiring an additional 1,256 shares during the last quarter. Finally, Main Management ETF Advisors LLC raised its stake in shares of Core Scientific by 1.6% in the second quarter. Main Management ETF Advisors LLC now owns 82,075 shares of the company’s stock valued at $1,401,000 after acquiring an additional 1,332 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Macquarie lifted their price objective on Core Scientific from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, September 29th. Needham & Company LLC downgraded Core Scientific from a “moderate buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Thursday, July 10th. Jefferies Financial Group set a $24.00 price objective on Core Scientific and gave the stock a “buy” rating in a research note on Tuesday. Citigroup downgraded Core Scientific from an “outperform” rating to a “market perform” rating in a research note on Monday, July 14th. Finally, Citizens Jmp downgraded Core Scientific from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.25.

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.