Insider Selling: Core Scientific, Inc. (NASDAQ:CORZ) Insider Sells 25,000 Shares of Stock

Core Scientific, Inc. (NASDAQ:CORZ) insider Todd M. Duchene sold 25,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following the transaction, the insider now directly owns 1,661,474 shares of the company’s stock, valued at $28,411,205.40. This trade represents a 1.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Core Scientific Stock Performance

Shares of CORZ stock opened at $17.55 on Friday. Core Scientific, Inc. has a 52-week low of $2.61 and a 52-week high of $18.35. The firm has a market capitalization of $4.90 billion and a P/E ratio of -3.19. The stock has a 50 day moving average price of $13.38 and a 200 day moving average price of $10.17.

Institutional Investors Weigh In On Core Scientific

A number of institutional investors and hedge funds have recently modified their holdings of CORZ. ORG Wealth Partners LLC bought a new position in shares of Core Scientific during the 3rd quarter worth $106,266,000. Vanguard Group Inc. purchased a new stake in shares of Core Scientific during the 1st quarter worth $21,973,000. Rush Island Management LP purchased a new stake in shares of Core Scientific during the 3rd quarter worth $32,221,000. Kensico Capital Management Corp purchased a new stake in Core Scientific in the first quarter valued at about $18,513,000. Finally, Taconic Capital Advisors LP raised its stake in Core Scientific by 178.7% in the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after buying an additional 1,742,462 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on CORZ shares. HC Wainwright increased their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Sanford C. Bernstein reissued an “outperform” rating and set a $17.00 price objective on shares of Core Scientific in a report on Tuesday, September 10th. Macquarie increased their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Roth Mkm initiated coverage on Core Scientific in a research report on Friday, November 15th. They issued a “buy” rating and a $25.50 price target for the company. Finally, Roth Capital upgraded Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $18.38.

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.