Core Scientific, Inc. (NASDAQ:CORZ) Director Purchases $24,752.00 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Jarrod M. Patten bought 2,240 shares of the business’s stock in a transaction on Friday, September 13th. The stock was bought at an average price of $11.05 per share, for a total transaction of $24,752.00. Following the purchase, the director now directly owns 300,000 shares of the company’s stock, valued at $3,315,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $12.03 on Thursday. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $12.48. The business has a 50-day moving average price of $10.11 and a 200-day moving average price of $6.93.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The business’s quarterly revenue was up 11.2% on a year-over-year basis. Analysts forecast that Core Scientific, Inc. will post 0.01 EPS for the current year.

Analysts Set New Price Targets

CORZ has been the topic of a number of analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, September 10th. LADENBURG THALM/SH SH restated a “buy” rating and set a $14.50 target price on shares of Core Scientific in a research note on Tuesday, July 2nd. Needham & Company LLC initiated coverage on Core Scientific in a research note on Wednesday, September 4th. They issued a “buy” rating and a $16.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a research note on Tuesday, September 3rd. Finally, BTIG Research upped their price objective on shares of Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $14.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barings LLC acquired a new stake in Core Scientific during the 1st quarter worth about $36,515,000. Vanguard Group Inc. acquired a new stake in Core Scientific during the first quarter worth about $21,973,000. Kensico Capital Management Corp purchased a new position in Core Scientific during the first quarter valued at approximately $18,513,000. Van ECK Associates Corp acquired a new position in Core Scientific in the second quarter valued at approximately $12,239,000. Finally, Vident Advisory LLC purchased a new stake in Core Scientific in the 1st quarter worth approximately $4,047,000.

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.