In a recent transaction, Yadin Rozov, a director at Core Scientific, Inc. (NASDAQ:CORZ), a company specializing in finance services, has made a significant purchase of the company’s shares. On March 15, 2024, Rozov acquired 80,000 shares of Core Scientific’s common stock at a weighted average price of $3.0746, totaling approximately $246,000.
The purchase of these shares was executed in multiple transactions, with prices ranging from $2.99 to $3.10 per share. Rozov now holds a total of 80,000 shares in the company following the transaction. In addition to the common stock acquisition, Rozov also purchased Tranche 2 Warrants related to the company’s stock. These warrants were acquired at a weighted average price of $0.01 per warrant, amounting to a total of $900. The Tranche 2 Warrants were bought in several transactions at prices between $1.97 and $2.35.
The Tranche 2 Warrants come with the right for the holder to purchase Core Scientific’s common stock at an exercise price of $0.01 per share, subject to certain conditions being met. Specifically, these conditions require the volume weighted average price per share of Core Scientific’s common stock to equal or exceed $8.72 per share on each trading day for a consecutive 20-day period, with potential adjustments.
The recent acquisitions by Rozov demonstrate a bolstering of his investment in Core Scientific, showcasing confidence in the company’s future prospects. The transactions were disclosed in compliance with regulatory requirements, and full details regarding the specific prices paid for each share and warrant are available upon request from the company, any security holder, or the SEC.
Investors and market watchers often pay close attention to insider transactions like these, as they can provide insights into the perspectives of those who are closely involved with the company’s operations and strategic direction.
InvestingPro Insights
Amidst the news of Yadin Rozov’s recent share purchase in Core Scientific, Inc. (NASDAQ:CORZ), the finance services specialist, investors might be seeking a deeper understanding of the company’s financial health and market performance. Here are some key metrics and insights from InvestingPro that could provide a clearer picture:
Core Scientific’s market capitalization currently stands at $607.38 million, reflecting the market’s valuation of the company. Despite the insider’s confidence, the stock has experienced a significant decline, with a one-week price total return of -13.21% and a one-month price total return of -13.67%. This downward trend aligns with an InvestingPro Tip noting that the stock has taken a big hit over the last week and has fared poorly over the last month.
The company’s price-to-earnings (P/E) ratio is at -5.26, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at -5.75, indicating that the company is not currently profitable. This is further supported by another InvestingPro Tip that analysts do not anticipate the company will be profitable this year.
However, it’s worth noting that Core Scientific’s valuation implies a strong free cash flow yield, which might be a point of interest for investors seeking long-term value. The company’s revenue for the last twelve months as of Q4 2023 was $502.4 million, with a gross profit margin of 24.57%. Despite a revenue decline of 21.54% over the same period, the company did report a quarterly revenue growth of 17.05% in Q4 2023.
For those interested in further insights and metrics, InvestingPro offers additional InvestingPro Tips for Core Scientific. To explore these tips and gain comprehensive data analysis, visit https://www.investing.com/pro/CORZ. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 6 more InvestingPro Tips available for Core Scientific on InvestingPro, which could be pivotal for making informed investment decisions.
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