Core Scientific Sees Unusually Large Options Volume (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) saw some unusual options trading on Monday. Stock investors bought 135,614 call options on the company. This is an increase of 178% compared to the typical volume of 48,797 call options.

Analyst Ratings Changes

Several research firms recently issued reports on CORZ. Macquarie lifted their price objective on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. B. Riley lifted their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group began coverage on Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. HC Wainwright lifted their price objective on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Roth Capital raised Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. Thirteen equities 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, Core Scientific currently has an average rating of “Buy” and a consensus price target of $18.38.

Insider Activity at Core Scientific

In other news, Director Jarrod M. Patten bought 5,021 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $9.68 per share, with a total value of $48,603.28. Following the completion of the transaction, the director now directly owns 285,760 shares of the company’s stock, valued at $2,766,156.80. This represents a 1.79 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Yadin Rozov sold 105,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total value of $1,901,550.00. Following the completion of the sale, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by company insiders.

Institutional Trading of Core Scientific

A number of institutional investors and hedge funds have recently modified their holdings of CORZ. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific in the 2nd quarter worth $28,000. Sunbelt Securities Inc. purchased a new position in Core Scientific during the second quarter valued at $33,000. Divisadero Street Capital Management LP purchased a new position in Core Scientific during the second quarter valued at $93,000. Rise Advisors LLC lifted its position 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 valued at $95,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Xponance Inc. purchased a new position in shares of Core Scientific in the second quarter valued at about $104,000.

Core Scientific Trading Up 1.0 %

Core Scientific stock traded up $0.17 during trading hours on Monday, hitting $17.88. 4,656,935 shares of the stock traded hands, compared to its average volume of 8,899,387. The company has a market cap of $4.99 billion and a PE ratio of -3.30. The firm’s 50-day moving average price is $14.27 and its two-hundred day moving average price is $10.91. Core Scientific has a one year low of $2.61 and a one year high of $18.63.

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.