Traders Purchase High Volume of Call Options on Core Scientific (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the recipient of unusually large options trading on Friday. Traders purchased 239,017 call options on the stock. This represents an increase of approximately 87% compared to the average volume of 127,636 call options.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Zacks Research upgraded Core Scientific from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Craig Hallum set a $27.00 price objective on shares of Core Scientific in a research report on Friday, October 31st. Macquarie Infrastructure raised shares of Core Scientific from a “hold” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $34.00 in a research note on Friday, October 31st. UBS Group set a $30.00 target price on shares of Core Scientific in a report on Wednesday, October 22nd. Finally, B. Riley Financial upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.69.

Institutional Trading of Core Scientific

Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in Core Scientific by 192.3% during the second quarter. Nisa Investment Advisors LLC now owns 4,662 shares of the company’s stock valued at $80,000 after purchasing an additional 3,067 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of Core Scientific during the 2nd quarter valued at about $243,000. Harvest Portfolios Group Inc. lifted its position in shares of Core Scientific by 81.9% during the 2nd quarter. Harvest Portfolios Group Inc. now owns 134,895 shares of the company’s stock valued at $2,303,000 after buying an additional 60,746 shares in the last quarter. ORG Wealth Partners LLC grew its stake in shares of Core Scientific by 1.8% during the 3rd quarter. ORG Wealth Partners LLC now owns 7,290,481 shares of the company’s stock valued at $130,791,000 after acquiring an additional 128,284 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Core Scientific by 39.9% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 452,806 shares of the company’s stock worth $8,123,000 after acquiring an additional 129,133 shares in the last quarter.

Core Scientific Stock Performance

Shares of Core Scientific stock opened at $16.81 on Friday. Core Scientific has a 52-week low of $6.20 and a 52-week high of $23.63. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 112.07 and a beta of 6.86. The company’s 50 day moving average price is $16.82 and its 200-day moving average price is $16.51.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.