Adam Taylor Sullivan Sells 369,712 Shares of Core Scientific, Inc. (NASDAQ:CORZ) Stock

Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan sold 369,712 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the sale, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Adam Taylor Sullivan also recently made the following trade(s):

• On Thursday, January 2nd, Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock. The stock was sold at an average price of $14.24, for a total value of $1,258,531.20.

Core Scientific Stock Up 7.0 %

Shares of NASDAQ CORZ opened at $12.26 on Friday. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63. The business’s 50 day moving average price is $15.25 and its 200 day moving average price is $13.02. The firm has a market cap of $3.42 billion and a P/E ratio of -2.27.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $95.35 million for the quarter, compared to analyst estimates of $94.80 million. As a group, research analysts expect that Core Scientific, Inc. will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Core Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Core Scientific by 25.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock worth $1,378,000 after buying an additional 20,000 shares during the last quarter. Highland Peak Capital LLC lifted its holdings in Core Scientific by 37.9% in the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after acquiring an additional 113,584 shares during the period. Mirabella Financial Services LLP purchased a new stake in Core Scientific in the 3rd quarter worth approximately $18,383,000. Van ECK Associates Corp grew its stake in shares of Core Scientific by 22.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock worth $19,177,000 after purchasing an additional 300,942 shares during the period. Finally, Capstone Investment Advisors LLC increased its holdings in shares of Core Scientific by 113.4% during the 3rd quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company’s stock valued at $652,000 after purchasing an additional 29,230 shares in the last quarter.

Analyst Ratings Changes

Several research firms have issued reports on CORZ. Jefferies Financial Group began coverage on Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 target price on the stock. Craig Hallum assumed coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective for the company. HC Wainwright increased their target price on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. B. Riley lifted their price target on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Compass Point increased their price objective on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $19.07.

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.