Insider Selling: Core Scientific, Inc. (NASDAQ:CORZ) CEO Sells 369,712 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the sale, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Adam Taylor Sullivan also recently made the following trade(s):

• On Thursday, January 2nd, Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock. The shares were sold at an average price of $14.24, for a total transaction of $1,258,531.20.

Core Scientific Stock Up 0.3 %

Shares of CORZ stock opened at $11.31 on Wednesday. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The business has a fifty day simple moving average of $15.37 and a 200-day simple moving average of $13.03. The stock has a market cap of $3.16 billion and a P/E ratio of -2.09.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on CORZ shares. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Core Scientific in a research report on Friday, January 17th. Roth Mkm began coverage on Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 target price on the stock. B. Riley increased their price target on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Thursday, November 7th. Finally, Macquarie raised their target price on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $19.07.

Institutional Investors Weigh In On Core Scientific

A number of large investors have recently bought and sold shares of CORZ. Rise Advisors LLC raised its holdings in shares of Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after acquiring an additional 1,000 shares during the last quarter. Joel Isaacson & Co. LLC increased its position in Core Scientific by 4.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock worth $815,000 after purchasing an additional 2,500 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Core Scientific in the 4th quarter valued at about $42,000. Sunbelt Securities Inc. purchased a new position in Core Scientific in the 2nd quarter valued at about $33,000. Finally, Vontobel Holding Ltd. boosted its stake in shares of Core Scientific by 10.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock worth $452,000 after purchasing an additional 3,591 shares during the last quarter.

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.