Core Scientific (NASDAQ:CORZ) Stock Price Up 9.8%

Core Scientific, Inc. (NASDAQ:CORZ) shares were up 9.8% during trading on Thursday . The stock traded as high as $3.86 and last traded at $3.82. Approximately 7,443,111 shares traded hands during trading, an increase of 136% from the average daily volume of 3,152,095 shares. The stock had previously closed at $3.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CORZ shares. Compass Point upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and raised their price target for the company from $1.00 to $8.50 in a research note on Wednesday, January 31st. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Core Scientific in a report on Wednesday, March 13th.

Core Scientific Trading Up 12.1 %

The stock has a fifty day simple moving average of $3.36 and a two-hundred day simple moving average of $2.23.

Core Scientific (NASDAQ:CORZ) last issued its 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 company had revenue of $141.93 million for the quarter, compared to analyst estimates of $133.10 million. Sell-side analysts predict that Core Scientific, Inc. will post -0.17 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Hexagon Capital Partners LLC purchased a new stake in Core Scientific in the first quarter worth about $34,000. Lindbrook Capital LLC purchased a new stake in shares of Core Scientific in the 1st quarter worth approximately $65,000. Fiduciary Alliance LLC bought a new position in Core Scientific during the 1st quarter valued at approximately $84,000. Dorsey & Whitney Trust CO LLC purchased a new position in Core Scientific during the first quarter valued at $122,000. Finally, Capstone Investment Advisors LLC bought a new stake in Core Scientific in the first quarter worth $307,000.

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.