Core Scientific, Inc. (NASDAQ:CORZ) Director Jarrod M. Patten Buys 1,500 Shares

Core Scientific, Inc. (NASDAQ:CORZ) Director Jarrod M. Patten acquired 1,500 shares of Core Scientific stock in a transaction dated Friday, August 30th. The stock was bought at an average price of $9.95 per share, for a total transaction of $14,925.00. Following the completion of the transaction, the director now directly owns 280,739 shares of the company’s stock, valued at $2,793,353.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Core Scientific Stock Performance

Shares of NASDAQ CORZ opened at $9.40 on Wednesday. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $12.25. The business has a 50 day moving average price of $9.98 and a two-hundred day moving average price of $6.42.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The firm had revenue of $141.10 million during the quarter, compared to the consensus estimate of $128.58 million. Core Scientific’s revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts expect that Core Scientific, Inc. will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CORZ. Barings LLC acquired a new stake in shares of Core Scientific in the 1st quarter valued at about $36,515,000. Vanguard Group Inc. bought a new stake in Core Scientific in the first quarter valued at about $21,973,000. Kensico Capital Management Corp acquired a new stake in Core Scientific during the first quarter valued at approximately $18,513,000. Van ECK Associates Corp bought a new position in Core Scientific during the 2nd quarter worth approximately $12,239,000. Finally, Vident Advisory LLC acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $4,047,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CORZ. B. Riley raised Core Scientific from a “neutral” rating to a “buy” rating and raised their price target for the stock from $0.50 to $13.00 in a research note on Wednesday, July 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a research report on Tuesday. HC Wainwright upped their price target on shares of Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. BTIG Research lifted their price target 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. Finally, Sanford C. Bernstein assumed coverage on Core Scientific in a report on Wednesday, July 10th. They set an “outperform” rating and a $17.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Core Scientific currently has an average rating of “Buy” and a consensus price target of $14.71.

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.