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

Core Scientific, Inc. (NASDAQ:CORZ) saw unusually large options trading on Friday. Investors purchased 30,153 call options on the company. This represents an increase of approximately 75% compared to the average volume of 17,256 call options.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 3,770 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $9.99, for a total value of $37,662.30. Following the completion of the transaction, the insider now directly owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Todd M. Duchene sold 3,770 shares of Core Scientific stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $9.99, for a total transaction of $37,662.30. Following the completion of the transaction, the insider now owns 393,428 shares in the company, valued at $3,930,345.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd M. Duchene sold 7,321 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total value of $68,744.19. Following the transaction, the insider now directly owns 359,877 shares in the company, valued at approximately $3,379,245.03. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barings LLC acquired a new stake in Core Scientific during the first quarter worth about $36,515,000. Vanguard Group Inc. acquired a new position in Core Scientific during the 1st quarter worth approximately $21,973,000. Kensico Capital Management Corp bought a new position in Core Scientific in the 1st quarter valued at approximately $18,513,000. Vident Advisory LLC acquired a new stake in Core Scientific in the first quarter valued at approximately $4,047,000. Finally, Blair William & Co. IL bought a new stake in shares of Core Scientific during the first quarter worth $1,156,000.

Core Scientific Stock Up 0.9 %

CORZ stock traded up $0.09 during trading hours on Friday, hitting $10.21. 5,682,560 shares of the stock were exchanged, compared to its average volume of 6,692,504. Core Scientific has a 12 month low of $2.61 and a 12 month high of $10.70. The company has a 50-day simple moving average of $6.30 and a two-hundred day simple moving average of $4.03.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The business had revenue of $179.29 million for the quarter, compared to the consensus estimate of $139.60 million. On average, equities analysts anticipate that Core Scientific will post -0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BTIG Research lifted their price objective on shares of Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. HC Wainwright upped their price target on shares of Core Scientific from $5.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, LADENBURG THALM/SH SH reissued a “buy” rating and issued a $14.50 price target on shares of Core Scientific in a report on Tuesday.

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.