Core Scientific (NASDAQ:CORZ) Trading 9.8% Higher

Core Scientific, Inc. (NASDAQ:CORZ)’s stock price traded up 9.8% during trading on Thursday . The company traded as high as $3.86 and last traded at $3.82. 7,443,111 shares traded hands during mid-day trading, an increase of 136% from the average session volume of 3,152,095 shares. The stock had previously closed at $3.48.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CORZ shares. Compass Point raised shares of Core Scientific from a “neutral” rating to a “buy” rating and raised their price objective for the company from $1.00 to $8.50 in a research note on Wednesday, January 31st. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Core Scientific in a research note on Wednesday, March 13th.

Core Scientific Price Performance

The firm’s 50-day simple moving average is $3.36 and its 200 day simple moving average is $2.26.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Tuesday, March 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.17). The firm had revenue of $141.93 million for the quarter, compared to analysts’ expectations of $133.10 million. On average, equities analysts forecast that Core Scientific, Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Eric Stanton Weiss acquired 15,000 shares of the stock in a transaction dated Friday, March 15th. The stock was purchased at an average cost of $3.03 per share, for a total transaction of $45,450.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $45,450. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Adam Taylor Sullivan purchased 65,300 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average cost of $3.06 per share, for a total transaction of $199,818.00. Following the acquisition, the chief executive officer now directly owns 93,753 shares of the company’s stock, valued at approximately $286,884.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Stanton Weiss acquired 15,000 shares of Core Scientific stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $3.03 per share, for a total transaction of $45,450.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $45,450. The disclosure for this purchase can be found here. 32.00% of the stock is currently owned by company insiders.

Institutional Trading of Core Scientific

Several institutional investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC purchased a new stake in Core Scientific during the 1st quarter valued at approximately $34,000. Lindbrook Capital LLC bought a new stake in shares of Core Scientific during the first quarter worth $65,000. Fiduciary Alliance LLC bought a new stake in shares of Core Scientific during the first quarter worth $84,000. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Core Scientific during the first quarter worth $122,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Core Scientific in the first quarter valued at about $307,000.

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.