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Core Scientific, Inc. (NASDAQ:CORZ), a $3.2 billion market cap company, recently saw a notable transaction from its Chief Legal and Administrative Officer, Todd DuChene. According to a filing with the Securities and Exchange Commission, DuChene sold 25,277 shares of common stock on January 24. The stock has experienced significant volatility, declining 26% in the past week despite maintaining a remarkable 226% gain over the last year. The shares were sold at an average price of $16.239 each, amounting to a total transaction value of $410,473. After this sale, DuChene retains ownership of 2,023,423 shares in the company. The transaction was conducted to satisfy tax obligations related to the vesting of restricted stock units. According to InvestingPro, the company maintains a "GOOD" overall financial health score, with analysts setting price targets ranging from $17 to $26. For comprehensive insider trading analysis and 11 additional key insights about Core Scientific, explore the detailed Pro Research Report available on InvestingPro.
In other recent news, Core Scientific Inc . has been the focus of several significant developments. The company has received a Buy rating and a $24.00 price target from Craig-Hallum, which cited the company’s efficient access to power and its $8.7 billion in high-margin revenue through contracts as key strengths. Compass Point also maintained a Buy rating on Core Scientific, raising the stock price target from $20.00 to $26.00 based on the company’s potential to secure high-performance computing contracts and diversify its customer base.
Core Scientific has also announced plans to offer $500 million in convertible senior notes, a move aimed at attracting qualified institutional investors. In addition, the company has initiated construction on a new 100-megawatt data center in Muskogee, Oklahoma, as part of a larger agreement with CoreWeave. This facility is expected to support high-performance computing hosting operations.
Jefferies, a global investment banking firm, has given Core Scientific a Buy rating, recognizing the company’s successful transition from Bitcoin mining to building artificial intelligence-focused data centers. These are just a few of the recent developments that have been shaping the trajectory of Core Scientific Inc.
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