Sterling Denise Marie Broscia, CFO, Core Scientific, Inc., sold (NASDAQ:), recently part of its holdings in the company. The deal comes at a time when Core Scientific is showing great performance in the market, with the stock up 375% over the past year and currently trading at $16.34. according to InvestingPro Analysis, the stock appears to be overvalued compared to its fair value, although analysts maintain a 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, for a total transaction value of $12,544. This sale was made to satisfy tax obligations upon the grant of restricted stock units, as stated in the filing. Following the transaction, Brucia now owns 440,028 shares in Core Scientific. InvestingPro Subscribers can access 14 additional investment tips and a comprehensive professional research report to gain deeper insights into Core Scientific's financial health, which is currently rated as Good.
In other recent news, Basic Scientific Company . The company has made great strides in artificial intelligence and high-performance computing (HPC). The company has begun construction of a new 100-megawatt data center in Muskogee, Oklahoma, as part of a larger agreement with CoreWeave. This new facility will support NVIDIA's (NASDAQ:) CoreWeave GPUs for a confidential customer, contributing to a total of 500 MW of contracted IT load for the HPC hosting operations.
Craig-Hallum initiated coverage on shares of Core Scientific with a Buy rating and a price target of $24.00. The analyst praised Core Scientific's recent CoreWeave deal and pointed to the company's potential for growth. Compass Point also raised its price target on Core Scientific from $20.00 to $26.00, while maintaining a “buy” rating on the stock.
The company also announced plans to issue $500 million in convertible senior notes, with the aim of attracting qualified institutional investors. This financial maneuver comes as part of the company's efforts to secure additional financing.
These latest developments highlight Core Scientific's ongoing efforts to expand its high-performance computing capabilities, secure additional financing, and diversify its customer base.
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