Insider Selling: Core Scientific, Inc. (NASDAQ:CORZ) Director Sells 105,000 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Yadin Rozov sold 105,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the completion of the transaction, the director now owns 345,239 shares of the company’s stock, valued at $6,252,278.29. This trade represents a 23.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Core Scientific Stock Performance

Shares of CORZ stock traded up $0.68 on Friday, hitting $18.23. 10,487,812 shares of the stock traded hands, compared to its average volume of 8,912,769. The stock has a market capitalization of $5.09 billion and a PE ratio of -3.37. The firm’s 50-day moving average price is $13.52 and its two-hundred day moving average price is $10.22. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.35.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BTIG Research raised their target price on Core Scientific from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Roth Mkm assumed coverage on shares of Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a research report on Thursday, October 3rd. Compass Point upped their price objective on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Needham & Company LLC lifted their target price on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $18.38.

Institutional Investors Weigh In On Core Scientific

Several large investors have recently bought and sold shares of the stock. Rise Advisors LLC increased its stake in Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after purchasing an additional 1,000 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific during the second quarter worth about $28,000. Sunbelt Securities Inc. purchased a new stake in shares of Core Scientific during the second quarter worth approximately $33,000. Vontobel Holding Ltd. lifted its stake in shares of Core Scientific by 10.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock worth $452,000 after acquiring an additional 3,591 shares during the period. Finally, Harvest Portfolios Group Inc. raised its position in Core Scientific by 10.1% in the third quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company’s stock worth $663,000 after acquiring an additional 5,109 shares in the last quarter.

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.