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

Core Scientific, Inc. (NASDAQ:CORZ) saw unusually large options trading activity on Tuesday. Traders acquired 18,061 put options on the stock. This represents an increase of 300% compared to the average daily volume of 4,513 put options.

Core Scientific Trading Down 7.6 %

Shares of NASDAQ CORZ opened at $2.93 on Wednesday. The company has a 50-day moving average price of $3.37 and a 200-day moving average price of $2.13. Core Scientific has a 1 year low of $2.61 and a 1 year high of $6.10.

Core Scientific (NASDAQ:CORZ) last released 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 company had revenue of $141.93 million for the quarter, compared to the consensus estimate of $133.10 million. On average, research analysts anticipate that Core Scientific will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Compass Point upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $1.00 to $8.50 in a report on Wednesday, January 31st. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Core Scientific in a report on Wednesday, March 13th.

Insider Transactions at Core Scientific

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific during the first quarter valued at about $34,000. Fiduciary Alliance LLC bought a new position in shares of Core Scientific during the first quarter valued at about $84,000. Perigon Wealth Management LLC bought a new position in shares of Core Scientific during the first quarter valued at about $688,000. Finally, Lindbrook Capital LLC bought a new position in shares of Core Scientific during the first quarter valued at about $65,000.

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.