Eric Stanton Weiss Acquires 6,000 Shares of Core Scientific (NASDAQ:CORZ) Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Eric Weiss acquired 6,000 shares of Core Scientific stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $16.33 per share, with a total value of $97,980.00. Following the completion of the transaction, the director directly owned 265,262 shares of the company’s stock, valued at $4,331,728.46. This trade represents a 2.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Eric Stanton Weiss also recently made the following trade(s):

• On Tuesday, August 18th, Eric Weiss bought 7,000 shares of Core Scientific stock. The shares were acquired at an average cost of $19.19 per share, with a total value of $134,330.00.

Core Scientific Stock Performance

NASDAQ:CORZ opened at $17.99 on Friday. The stock has a 50 day moving average price of $19.57 and a 200 day moving average price of $20.98. The stock has a market cap of $5.78 billion, a PE ratio of -4.07 and a beta of 5.48. Core Scientific, Inc. has a one year low of $13.35 and a one year high of $30.46.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. As a group, analysts predict that Core Scientific, Inc. will post -1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Core Scientific

Several hedge funds have recently added to or reduced their stakes in CORZ. BlackRock Inc. acquired a new stake in shares of Core Scientific during the second quarter valued at $719,649,000. Situational Awareness LP grew its position in Core Scientific by 42.5% during the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after acquiring an additional 8,575,944 shares during the period. Jericho Capital Asset Management L.P. grew its holdings in shares of Core Scientific by 11.4% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock worth $189,842,000 after purchasing an additional 1,338,796 shares during the period. Apollo Management Holdings L.P. purchased a new stake in Core Scientific during the second quarter worth approximately $115,671,000. Finally, Geode Capital Management LLC increased its holdings in Core Scientific by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 7,651,002 shares of the company’s stock valued at $111,417,000 after purchasing an additional 109,145 shares in the last quarter.

Analyst Upgrades and Downgrades

CORZ has been the topic of several analyst reports. Lucid Cap Mkts upgraded Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. B. Riley Financial increased their price target on Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Wells Fargo & Company started coverage on Core Scientific in a research note on Thursday. They issued an “overweight” rating and a $28.00 price objective for the company. Needham & Company LLC raised their target price on shares of Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Capital One Financial set a $33.00 price target on shares of Core Scientific in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $31.96.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a digital infrastructure company that develops and operates data centers for high-performance computing. Its business has historically centered on large-scale bitcoin mining, including the deployment and operation of specialized computing equipment and supporting power, networking and facility infrastructure.

The company also provides hosting and colocation services for digital asset miners and other high-performance computing customers. Core Scientific has increasingly focused on expanding its data center platform for artificial intelligence and other compute-intensive workloads, including infrastructure designed to support graphics processing unit (GPU) deployments.

Founded in 2017, Core Scientific operates data center facilities in the United States and emerged from Chapter 11 bankruptcy protection in January 2024.