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

Core Scientific, Inc. (NASDAQ:CORZ) was the target of some unusual options trading on Friday. Stock traders acquired 30,153 call options on the company. This represents an increase of approximately 75% compared to the average daily volume of 17,256 call options.

Analysts Set New Price Targets

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

Core Scientific Stock Up 0.9 %

Shares of CORZ traded up $0.09 during mid-day trading on Friday, hitting $10.21. 5,682,560 shares of the company’s stock were exchanged, compared to its average volume of 6,692,504. The stock’s 50-day moving average is $6.30 and its 200-day moving average is $4.03. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $10.70.

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

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 7,321 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total transaction of $68,744.19. Following the sale, the insider now directly owns 359,877 shares of the company’s stock, valued at $3,379,245.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Todd M. Duchene sold 3,770 shares of the business’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 sale, the insider now owns 393,428 shares of the company’s stock, valued at approximately $3,930,345.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the transaction, the insider now directly owns 359,877 shares in the company, valued at $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 have recently bought and sold shares of the stock. Barings LLC purchased a new position in Core Scientific in the first quarter valued at $36,515,000. Vanguard Group Inc. acquired a new stake in shares of Core Scientific during the 1st quarter worth about $21,973,000. Kensico Capital Management Corp purchased a new stake in Core Scientific during the first quarter worth approximately $18,513,000. Vident Advisory LLC acquired a new position in Core Scientific in the first quarter valued at approximately $4,047,000. Finally, Blair William & Co. IL purchased a new position in Core Scientific in the first quarter valued at approximately $1,156,000.

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.