Jarrod M. Patten Buys 1,500 Shares of Core Scientific, Inc. (NASDAQ:CORZ) Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Jarrod M. Patten acquired 1,500 shares of the stock in a transaction on Friday, August 30th. The shares were bought at an average price of $9.95 per share, with a total value of $14,925.00. Following the purchase, the director now directly owns 280,739 shares of the company’s stock, valued at approximately $2,793,353.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Core Scientific Trading Up 3.7 %

Shares of CORZ stock opened at $10.24 on Friday. The company has a 50 day moving average price of $9.98 and a 200-day moving average price of $6.44. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $12.25.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The business’s revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Core Scientific, Inc. will post 0.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a report on Tuesday. Needham & Company LLC started coverage on shares of Core Scientific in a research note on Wednesday. They set a “buy” rating and a $16.00 price objective for the company. Sanford C. Bernstein started coverage on shares of Core Scientific in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $17.00 target price on the stock. HC Wainwright increased their price target on shares of Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, LADENBURG THALM/SH SH restated a “buy” rating and issued a $14.50 price objective on shares of Core Scientific in a report on Tuesday, July 2nd. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Core Scientific presently has an average rating of “Buy” and an average target price of $14.88.

Institutional Trading of Core Scientific

Several large investors have recently modified their holdings of CORZ. Vanguard Group Inc. bought a new position in Core Scientific in the first quarter valued at about $21,973,000. Hexagon Capital Partners LLC purchased a new stake in shares of Core Scientific during the 1st quarter valued at about $34,000. Blair William & Co. IL purchased a new stake in shares of Core Scientific during the 1st quarter valued at about $1,156,000. Vident Advisory LLC bought a new position in shares of Core Scientific in the 1st quarter worth approximately $4,047,000. Finally, Fiduciary Alliance LLC purchased a new position in shares of Core Scientific in the first quarter worth approximately $84,000.

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.