Core Scientific, Inc. (NASDAQ:CORZ) Director Todd A. Becker Sells 134,250 Shares

Core Scientific, Inc. (NASDAQ:CORZ) Director Todd A. Becker sold 134,250 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the transaction, the director now owns 195,687 shares of the company’s stock, valued at approximately $2,103,635.25. The trade was a 40.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Core Scientific Stock Up 0.1 %

NASDAQ CORZ opened at $9.60 on Thursday. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63. The firm has a market cap of $2.82 billion, a P/E ratio of -1.77 and a beta of 6.83. The company’s 50 day moving average is $12.91 and its 200-day moving average is $13.31.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to analysts’ expectations of $97.07 million. Equities analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Core Scientific by 2,937.7% during the fourth quarter. FMR LLC now owns 7,436,229 shares of the company’s stock valued at $104,479,000 after buying an additional 7,191,428 shares during the period. Vanguard Group Inc. increased its holdings in Core Scientific by 54.3% during the 4th quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock worth $272,270,000 after acquiring an additional 6,819,406 shares during the period. Helix Partners Management LP purchased a new stake in Core Scientific in the 4th quarter worth approximately $86,498,000. Driehaus Capital Management LLC boosted its holdings in Core Scientific by 112.1% in the 4th quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company’s stock valued at $144,212,000 after purchasing an additional 5,424,901 shares during the period. Finally, Fred Alger Management LLC purchased a new position in shares of Core Scientific during the 4th quarter valued at $62,011,000.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Roth Capital raised Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 price objective for the company. BTIG Research upped their price target on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Roth Mkm initiated coverage on shares of Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price objective on the stock. Finally, Craig Hallum assumed coverage on Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target for the company. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently 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.