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

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CORZ. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a report on Thursday, October 3rd. B. Riley boosted their price objective on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright raised their target price on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Macquarie increased their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Core Scientific currently has a consensus rating of “Buy” and a consensus price target of $18.38.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following the completion of the sale, the insider now owns 1,661,474 shares in the company, valued at $28,411,205.40. This trade represents a 1.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the transaction, 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. Company insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Institutional investors and hedge funds have recently made changes to their positions in the business. ORG Wealth Partners LLC bought a new position in shares of Core Scientific in the 3rd quarter worth $106,266,000. Vanguard Group Inc. bought a new position in Core Scientific during the first quarter worth about $21,973,000. Rush Island Management LP acquired a new position in shares of Core Scientific during the 3rd quarter worth about $32,221,000. Taconic Capital Advisors LP increased its stake in shares of Core Scientific by 178.7% in the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after acquiring an additional 1,742,462 shares during the last quarter. Finally, Mirabella Financial Services LLP acquired a new stake in shares of Core Scientific in the 3rd quarter valued at approximately $18,383,000.

Core Scientific Price Performance

CORZ opened at $16.06 on Tuesday. The firm has a 50 day simple moving average of $14.34 and a 200 day simple moving average of $11.00. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The company has a market cap of $4.48 billion and a price-to-earnings ratio of -2.97.

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.