Core Scientific Sees Unusually Large Options Volume (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of unusually large options trading activity on Monday. Stock traders acquired 135,614 call options on the company. This is an increase of approximately 178% compared to the typical volume of 48,797 call options.

Core Scientific Trading Up 2.2 %

Shares of NASDAQ:CORZ opened at $16.42 on Wednesday. Core Scientific has a 1-year low of $2.61 and a 1-year high of $18.63. The stock has a market capitalization of $4.59 billion and a P/E ratio of -3.04. The business has a 50-day moving average price of $14.41 and a two-hundred day moving average price of $11.09.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CORZ shares. Sanford C. Bernstein restated an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Tuesday, September 10th. Roth Mkm began coverage on Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price objective on the stock. Macquarie increased their target price on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. B. Riley raised their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Roth Capital upgraded Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $18.38.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were 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 in the company, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the completion of the sale, the director now owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. The trade was a 23.32 % decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Core Scientific

A number of institutional investors and hedge funds have recently modified their holdings of CORZ. P Schoenfeld Asset Management LP acquired a new position in Core Scientific during the second quarter valued at approximately $4,185,000. Highland Peak Capital LLC increased its position in shares of Core Scientific by 37.9% in the 3rd quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after buying an additional 113,584 shares in the last quarter. Mirabella Financial Services LLP bought a new stake in shares of Core Scientific in the third quarter worth about $18,383,000. Vanguard Group Inc. acquired a new stake in shares of Core Scientific during the first quarter worth about $21,973,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Core Scientific by 22.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after purchasing an additional 300,942 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.