Core Scientific Target of Unusually High Options Trading (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of unusually large options trading on Tuesday. Investors acquired 18,061 put options on the stock. This is an increase of 300% compared to the typical volume of 4,513 put options.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CORZ shares. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Core Scientific in a research report on Wednesday, March 13th. Compass Point upgraded Core Scientific from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $1.00 to $8.50 in a research report on Wednesday, January 31st.

Core Scientific Trading Up 2.4 %

Shares of CORZ opened at $3.00 on Thursday. The stock has a 50 day simple moving average of $3.37 and a 200 day simple moving average of $2.13. Core Scientific has a 52-week low of $2.61 and a 52-week high of $6.10.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $133.10 million. As a group, equities research analysts anticipate that Core Scientific will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently modified their holdings of the business. Hexagon Capital Partners LLC acquired a new position in Core Scientific during the 1st quarter worth approximately $34,000. Lindbrook Capital LLC acquired a new position in Core Scientific during the 1st quarter worth approximately $65,000. Fiduciary Alliance LLC acquired a new position in Core Scientific during the 1st quarter worth approximately $84,000. Capstone Investment Advisors LLC acquired a new position in Core Scientific during the 1st quarter worth approximately $307,000. Finally, Perigon Wealth Management LLC acquired a new position in Core Scientific during the 1st quarter worth approximately $688,000.

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.