Core Scientific (NASDAQ:CORZ) Stock Price Down 5.7%

Shares of Core Scientific, Inc. (NASDAQ:CORZ) dropped 5.7% during mid-day trading on Tuesday . The company traded as low as $2.98 and last traded at $2.99. Approximately 617,133 shares changed hands during trading, a decline of 81% from the average daily volume of 3,196,002 shares. The stock had previously closed at $3.17.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Compass Point raised Core Scientific from a “neutral” rating to a “buy” rating and increased their target price for the company from $1.00 to $8.50 in a research note on Wednesday, January 31st. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Core Scientific in a research report on Wednesday, March 13th.

Core Scientific Trading Up 2.4 %

The stock’s 50 day simple moving average is $3.37 and its two-hundred day simple moving average is $2.13.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.17). The company had revenue of $141.93 million for the quarter, compared to the consensus estimate of $133.10 million. On average, equities research analysts expect that Core Scientific, Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Adam Taylor Sullivan bought 65,300 shares of the business’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $3.06 per share, with a total value of $199,818.00. Following the transaction, the chief executive officer now owns 93,753 shares in the company, valued at approximately $286,884.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Eric Stanton Weiss bought 15,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $3.03 per share, with a total value of $45,450.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $45,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Taylor Sullivan acquired 65,300 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $3.06 per share, with a total value of $199,818.00. Following the transaction, the chief executive officer now owns 93,753 shares in the company, valued at $286,884.18. The disclosure for this purchase can be found here. 32.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Core Scientific

Hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC purchased a new stake in shares of Core Scientific during the 1st quarter valued at about $688,000. Capstone Investment Advisors LLC purchased a new stake in shares of Core Scientific during the 1st quarter valued at about $307,000. Fiduciary Alliance LLC purchased a new stake in shares of Core Scientific during the 1st quarter valued at about $84,000. Lindbrook Capital LLC purchased a new stake in shares of Core Scientific during the 1st quarter valued at about $65,000. Finally, Hexagon Capital Partners LLC purchased a new stake in shares of Core Scientific during the 1st quarter valued at about $34,000.

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.