Core Scientific, Inc. (NASDAQ:CORZ) Short Interest Update

Core Scientific, Inc. (NASDAQ:CORZ) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 44,670,000 shares, a growth of 13.2% from the December 31st total of 39,460,000 shares. Based on an average daily trading volume, of 10,740,000 shares, the short-interest ratio is currently 4.2 days. Currently, 18.5% of the company’s shares are sold short.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price target on the stock. Craig Hallum assumed coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target on the stock. BTIG Research boosted their price target on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Macquarie boosted their price target on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $19.07.

Insider Activity

In related news, CEO Adam Taylor Sullivan sold 88,380 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,258,531.20. Following the completion of the transaction, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. This represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Todd M. Duchene sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the completion of the transaction, the insider now directly owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 744,032 shares of company stock valued at $11,863,966 in the last quarter. Company insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CORZ. Newbridge Financial Services Group Inc. acquired a new position in shares of Core Scientific during the 4th quarter worth approximately $42,000. Sunbelt Securities Inc. acquired a new position in shares of Core Scientific during the 2nd quarter worth approximately $33,000. Rise Advisors LLC grew its position in shares of Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after purchasing an additional 1,000 shares in the last quarter. KBC Group NV acquired a new position in shares of Core Scientific during the 4th quarter worth approximately $114,000. Finally, Villere ST Denis J & Co. LLC acquired a new position in shares of Core Scientific during the 4th quarter worth approximately $140,000.

Core Scientific Price Performance

Core Scientific stock traded down $0.36 during trading hours on Monday, hitting $11.91. The company had a trading volume of 5,390,002 shares, compared to its average volume of 12,620,471. The firm has a market cap of $3.33 billion and a PE ratio of -2.20. Core Scientific has a one year low of $2.61 and a one year high of $18.63. The firm has a 50-day moving average of $15.03 and a 200 day moving average of $13.04.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share 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 analysts’ expectations of $94.80 million. As a group, research analysts expect that Core Scientific will post 0.5 earnings per share 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.