Insider Selling: Core Scientific, Inc. (NASDAQ:CORZ) Insider Sells 25,000 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the transaction, the insider now owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Core Scientific Trading Up 4.8 %

NASDAQ CORZ traded up $0.79 on Wednesday, hitting $17.26. 10,195,259 shares of the company were exchanged, compared to its average volume of 8,897,340. The stock has a fifty day moving average of $13.24 and a 200-day moving average of $10.12. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.03. The company has a market cap of $4.82 billion and a PE ratio of -3.17.

Analyst Ratings Changes

Several analysts have recently weighed in on CORZ shares. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Roth Mkm assumed coverage on shares of Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 target price for the company. Compass Point lifted their target price on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Needham & Company LLC lifted their price target on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group assumed coverage on shares of Core Scientific in a research report on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective on the stock. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Core Scientific has an average rating of “Buy” and an average target price of $18.38.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CORZ. ORG Wealth Partners LLC bought a new position in shares of Core Scientific during the third quarter valued at about $106,266,000. Vanguard Group Inc. purchased a new stake in Core Scientific during the first quarter worth about $21,973,000. Rush Island Management LP purchased a new stake in Core Scientific during the third quarter worth about $32,221,000. Kensico Capital Management Corp purchased a new stake in Core Scientific during the first quarter worth about $18,513,000. Finally, Taconic Capital Advisors LP increased its stake in shares of Core Scientific by 178.7% in the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock worth $32,229,000 after purchasing an additional 1,742,462 shares in the last quarter.

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.