Core Scientific, Inc. (NASDAQ:CORZ) Insider Sells $427,500.00 in Stock

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

Core Scientific Price Performance

CORZ stock traded up $0.79 on Wednesday, reaching $17.26. The company’s stock had a trading volume of 10,195,259 shares, compared to its average volume of 8,897,340. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.03. The company has a market capitalization of $4.82 billion and a P/E ratio of -3.17. The firm has a fifty day moving average of $13.24 and a two-hundred day moving average of $10.12.

Hedge Funds Weigh In On Core Scientific

Hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in Core Scientific during the second quarter worth $28,000. Sunbelt Securities Inc. acquired a new position in Core Scientific during the second quarter worth $33,000. Rise Advisors LLC acquired a new position in Core Scientific during the second quarter worth $65,000. Aspect Partners LLC bought a new stake in Core Scientific during the first quarter valued at about $29,000. Finally, Divisadero Street Capital Management LP bought a new stake in Core Scientific during the second quarter valued at about $93,000.

Analysts Set New Price Targets

CORZ has been the topic of several research analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, September 10th. Macquarie boosted their target price on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a research report on Thursday, October 3rd. HC Wainwright upped their price objective on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Thursday, November 7th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Core Scientific presently has a consensus rating of “Buy” and a consensus target price of $18.38.

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.