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

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of unusually large options trading on Monday. Stock investors purchased 135,614 call options on the stock. This is an increase of 178% compared to the average volume of 48,797 call options.

Analyst Ratings Changes

A number of brokerages recently issued reports on CORZ. BTIG Research boosted their price target on Core Scientific from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group began coverage on Core Scientific in a report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price target for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Thursday, November 7th. Roth Mkm began coverage on Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 price target for the company. Finally, Needham & Company LLC upped their target price on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $18.38.

Insider Transactions at Core Scientific

In related news, Director Jarrod M. Patten acquired 5,021 shares of Core Scientific stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $9.68 per share, with a total value of $48,603.28. Following the completion of the purchase, the director now directly owns 285,760 shares of the company’s stock, valued at $2,766,156.80. The trade was a 1.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total value of $427,500.00. Following the sale, the insider now directly owns 1,661,474 shares in the company, valued at $28,411,205.40. The trade was a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CORZ. Vanguard Group Inc. purchased a new stake in Core Scientific during the first quarter worth about $21,973,000. SG Americas Securities LLC purchased a new stake in shares of Core Scientific in the second quarter valued at about $1,792,000. ORG Partners LLC purchased a new stake in shares of Core Scientific in the second quarter valued at about $872,000. Red Door Wealth Management LLC purchased a new stake in shares of Core Scientific in the second quarter valued at about $218,000. Finally, Silverleafe Capital Partners LLC purchased a new stake in shares of Core Scientific in the second quarter valued at about $158,000.

Core Scientific Stock Performance

NASDAQ CORZ traded up $0.17 during trading on Monday, reaching $17.88. The company’s stock had a trading volume of 4,656,935 shares, compared to its average volume of 8,899,387. The firm has a market cap of $4.99 billion and a price-to-earnings ratio of -3.30. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.63. The business’s fifty day moving average price is $14.27 and its 200-day moving average price is $10.91.

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.