Core Scientific (NASDAQ:CORZ) Sees Unusually-High Trading Volume

Core Scientific, Inc. (NASDAQ:CORZ) saw strong trading volume on Tuesday . 2,423,642 shares changed hands during mid-day trading, a decline of 63% from the previous session’s volume of 6,578,012 shares.The stock last traded at $10.30 and had previously closed at $9.85.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $14.50 target price on shares of Core Scientific in a research report on Tuesday. BTIG Research boosted their price target 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, HC Wainwright boosted their price target on Core Scientific from $5.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th.

Core Scientific Stock Down 1.4 %

The company has a 50 day moving average of $6.17 and a 200 day moving average of $3.98.

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

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total transaction of $37,662.30. Following the sale, the insider now owns 393,428 shares in the company, valued at $3,930,345.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the sale, the insider now owns 359,877 shares in the company, valued at $3,379,245.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Todd M. Duchene sold 3,770 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total value of $37,662.30. Following the sale, the insider now owns 393,428 shares in the company, valued at $3,930,345.72. The disclosure for this sale can be found here.

Institutional Trading of Core Scientific

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aspect Partners LLC acquired a new stake in shares of Core Scientific during the 1st quarter worth approximately $29,000. Hexagon Capital Partners LLC acquired a new stake in shares of Core Scientific during the 1st quarter worth approximately $34,000. Lindbrook Capital LLC acquired a new stake in shares of Core Scientific during the 1st quarter worth approximately $65,000. Fiduciary Alliance LLC acquired a new stake in shares of Core Scientific during the 1st quarter worth approximately $84,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Core Scientific during the 1st quarter worth approximately $122,000.

Core Scientific Company Profile

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.