Traders Buy High Volume of Put Options on Core Scientific (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of some unusual options trading on Tuesday. Stock traders bought 18,061 put options on the stock. This represents an increase of 300% compared to the average daily volume of 4,513 put options.

Insider Activity at Core Scientific

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

Institutional Investors Weigh In On Core Scientific

Institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC acquired a new stake in shares of Core Scientific in the first quarter valued at $34,000. Lindbrook Capital LLC acquired a new stake in shares of Core Scientific in the first quarter valued at approximately $65,000. Fiduciary Alliance LLC acquired a new position in Core Scientific during the 1st quarter worth $84,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Core Scientific in the 1st quarter valued at $688,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CORZ shares. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Core Scientific in a research note on Wednesday, March 13th. Compass Point upgraded Core Scientific from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $1.00 to $8.50 in a research note on Wednesday, January 31st.

Core Scientific Stock Performance

NASDAQ:CORZ traded down $0.18 during midday trading on Tuesday, reaching $2.99. The stock had a trading volume of 1,547,134 shares, compared to its average volume of 3,213,277. Core Scientific has a 1-year low of $2.61 and a 1-year high of $6.10. The firm’s fifty day simple moving average is $3.38 and its 200-day simple moving average is $2.11.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.17). The firm had revenue of $141.93 million during the quarter, compared to the consensus estimate of $133.10 million. On average, sell-side analysts anticipate that Core Scientific will post -0.17 EPS for the current year.

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.