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

Core Scientific, Inc. (NASDAQ:CORZ) saw some unusual options trading activity on Friday. Investors acquired 239,017 call options on the company. This represents an increase of approximately 87% compared to the average volume of 127,636 call options.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Core Scientific by 206.5% during the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after purchasing an additional 950 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Core Scientific by 936.7% during the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after acquiring an additional 1,686 shares in the last quarter. HHM Wealth Advisors LLC increased its position in shares of Core Scientific by 96.5% during the second quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock worth $33,000 after acquiring an additional 946 shares during the last quarter. Osaic Holdings Inc. lifted 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 worth $34,000 after acquiring an additional 1,066 shares in the last quarter. Finally, Danske Bank A S acquired a new position in shares of Core Scientific in the fourth quarter worth about $36,000.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citizens Jmp upgraded Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research report on Wednesday, January 21st. Citigroup upgraded Core Scientific from a “market perform” rating to an “outperform” rating in a report on Thursday, December 18th. Sanford C. Bernstein lifted their price objective on Core Scientific from $17.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, Cantor Fitzgerald boosted their target price on Core Scientific from $18.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Core Scientific has an average rating of “Moderate Buy” and a consensus price target of $23.69.

Core Scientific Stock Performance

CORZ stock opened at $16.81 on Friday. The firm has a market cap of $5.21 billion, a P/E ratio of 112.07 and a beta of 6.86. Core Scientific has a 1 year low of $6.20 and a 1 year high of $23.63. The stock has a 50-day simple moving average of $16.82 and a 200-day simple moving average of $16.49.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.