Short Interest in Core Scientific, Inc. (NASDAQ:CORZ) Increases By 13.2%

Core Scientific, Inc. (NASDAQ:CORZ) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 44,670,000 shares, an increase of 13.2% from the December 31st total of 39,460,000 shares. Approximately 18.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 10,740,000 shares, the short-interest ratio is presently 4.2 days.

Analyst Upgrades and Downgrades

CORZ has been the topic of a number of recent research reports. Macquarie upped their target price on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Craig Hallum began coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 target price for the company. Keefe, Bruyette & Woods started coverage on Core Scientific in a research note on Monday, January 27th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific Stock Up 0.5 %

Shares of Core Scientific stock traded up $0.06 during trading hours on Monday, hitting $12.33. The company’s stock had a trading volume of 9,436,739 shares, compared to its average volume of 12,817,225. The company has a market capitalization of $3.44 billion and a PE ratio of -2.28. The business has a fifty day moving average of $15.03 and a 200 day moving average of $13.04. Core Scientific has a 1-year low of $2.61 and a 1-year high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $95.35 million during the quarter, compared to the consensus estimate of $94.80 million. On average, sell-side analysts anticipate that Core Scientific will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Yadin Rozov sold 105,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. This trade represents a 23.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the completion of the sale, the insider now directly owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 744,032 shares of company stock worth $11,863,966. Company insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC increased its holdings in Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after purchasing an additional 1,000 shares during the last quarter. First Horizon Advisors Inc. acquired a new stake in shares of Core Scientific during the fourth quarter worth approximately $34,000. Joel Isaacson & Co. LLC increased its stake in shares of Core Scientific by 4.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock worth $815,000 after buying an additional 2,500 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Core Scientific in the fourth quarter valued at $42,000. Finally, Sunbelt Securities Inc. bought a new position in Core Scientific during the 2nd quarter valued at $33,000.

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.