Sterling Denise Marie Brucia, the Chief Financial Officer of Core Scientific, Inc. (NASDAQ:CORZ), recently sold a portion of her holdings in the company. The transaction comes as Core Scientific shows remarkable market performance, with the stock up 375% over the past year and currently trading at $16.34. According to InvestingPro analysis, the stock appears overvalued relative to its Fair Value, though analysts maintain positive outlook with price targets ranging from $17 to $26. According to a filing with the Securities and Exchange Commission, Brucia sold 802 shares of common stock on January 22, 2025, at an average price of $15.641 per share, amounting to a total transaction value of $12,544. This sale was made to satisfy tax obligations upon the vesting of restricted stock units, as noted in the filing. After the transaction, Brucia holds 440,028 shares of Core Scientific. InvestingPro subscribers can access 14 additional investment tips and a comprehensive Pro Research Report for deeper insights into Core Scientific's financial health, which is currently rated as GOOD.
In other recent news, Core Scientific Inc . has been making significant moves in the AI and high-performance computing (HPC) space. The company initiated construction on a new 100-megawatt data center in Muskogee, Oklahoma, as part of a larger agreement with CoreWeave. This new facility will support CoreWeave's NVIDIA (NASDAQ:NVDA) GPUs for a confidential client, contributing to the total of 500 megawatts of IT load contracted for HPC hosting operations.
Craig-Hallum initiated coverage on Core Scientific shares with a Buy rating and a price target of $24.00. The analyst praised Core Scientific's recent CoreWeave deal and noted the company's potential for growth. Compass Point also raised its price target for Core Scientific from $20.00 to $26.00, maintaining a 'Buy' rating on the stock.
The company also announced plans to offer $500 million in convertible senior notes, aiming to attract qualified institutional investors. This financial maneuver is part of the company's efforts to secure additional funding.
These recent developments highlight Core Scientific's ongoing efforts to expand its high-performance computing capabilities, secure additional funding, and diversify its customer base.
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