Core Scientific (NASDAQ:CORZ) Stock Price Down 5.1%

Core Scientific, Inc. (NASDAQ:CORZ) shares fell 5.1% during mid-day trading on Wednesday . The stock traded as low as $3.30 and last traded at $3.32. 1,027,346 shares traded hands during trading, a decline of 69% from the average session volume of 3,263,914 shares. The stock had previously closed at $3.50.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CORZ. Compass Point raised shares of Core Scientific from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $1.00 to $8.50 in a report on Wednesday, January 31st. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Core Scientific in a report on Wednesday, March 13th.

Core Scientific Price Performance

The stock’s fifty day simple moving average is $3.41 and its two-hundred day simple moving average is $2.03.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.17). The business had revenue of $141.93 million for the quarter, compared to the consensus estimate of $133.10 million. Equities research analysts anticipate that Core Scientific, Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Core Scientific

An institutional investor recently bought a new position in Core Scientific stock. Hexagon Capital Partners LLC acquired a new position in Core Scientific, Inc. (NASDAQ:CORZ) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,722 shares of the company’s stock, valued at approximately $34,000.

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.