Investors Purchase Large Volume of Core Scientific Call Options (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the target of unusually large options trading on Monday. Stock investors purchased 160,780 call options on the stock. This is an increase of approximately 202% compared to the average daily volume of 53,189 call options.

Insiders Place Their Bets

In other Core Scientific 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total value 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. This trade represents a 23.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 349,043 shares of company stock valued at $5,449,345 over the last quarter. 32.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core Scientific

A number of institutional investors have recently added to or reduced their stakes in CORZ. Sunbelt Securities Inc. acquired a new stake in shares of Core Scientific in the second quarter valued at about $33,000. Rise Advisors LLC lifted its stake in Core Scientific by 14.3% in the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after buying an additional 1,000 shares in the last quarter. Xponance Inc. acquired a new stake in Core Scientific in the 2nd quarter worth about $104,000. KBC Group NV purchased a new stake in Core Scientific during the 4th quarter worth approximately $114,000. Finally, Amalgamated Bank acquired a new position in shares of Core Scientific during the second quarter valued at approximately $115,000.

Analysts Set New Price Targets

CORZ has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 price target on the stock. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research note on Thursday, November 7th. Roth Mkm initiated coverage on shares of Core Scientific in a research note on Friday, November 15th. They set a “buy” rating and a $25.50 target price for the company. Finally, HC Wainwright boosted their price target on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Core Scientific has an average rating of “Buy” and an average target price of $19.07.

Core Scientific Stock Down 29.6 %

CORZ stock opened at $11.26 on Tuesday. Core Scientific has a 52-week low of $2.61 and a 52-week high of $18.63. The company’s 50-day simple moving average is $15.56 and its 200-day simple moving average is $13.01. The firm has a market cap of $3.14 billion and a P/E ratio of -2.08.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $95.35 million during the quarter, compared to the consensus estimate of $94.80 million. On average, analysts anticipate that Core Scientific will post 0.5 earnings per share for the current fiscal year.

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.