Core Scientific, Inc. (NASDAQ:CORZ) is JBF Capital Inc.'s 9th Largest Position

JBF Capital Inc. increased its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 567,093 shares of the company's stock after buying an additional 47,500 shares during the period. Core Scientific comprises about 1.4% of JBF Capital Inc.'s holdings, making the stock its 9th biggest position. JBF Capital Inc. owned about 0.20% of Core Scientific worth $7,968,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Wellington Shields & Co. LLC bought a new position in shares of Core Scientific during the 4th quarter worth $26,000. First Horizon Advisors Inc. purchased a new stake in Core Scientific during the fourth quarter valued at about $34,000. Newbridge Financial Services Group Inc. bought a new position in Core Scientific during the fourth quarter worth about $42,000. Vestcor Inc purchased a new position in shares of Core Scientific in the fourth quarter worth about $66,000. Finally, US Bancorp DE bought a new stake in shares of Core Scientific in the fourth quarter valued at approximately $99,000.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 25,277 shares of the business's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now directly owns 2,023,423 shares of the company's stock, valued at $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the sale, the chief executive officer now owns 3,758,793 shares of the company's stock, valued at approximately $61,042,798.32. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 529,239 shares of company stock valued at $7,857,809 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Core Scientific Stock Up 5.8 %

NASDAQ:CORZ traded up $0.41 during midday trading on Thursday, hitting $7.53. The company had a trading volume of 10,331,010 shares, compared to its average volume of 12,560,867. The company has a market capitalization of $2.22 billion, a PE ratio of -1.39 and a beta of 6.80. Core Scientific, Inc. has a 52-week low of $2.88 and a 52-week high of $18.63. The stock's fifty day moving average price is $8.47 and its 200-day moving average price is $12.43.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million during the quarter, compared to analysts' expectations of $97.07 million. As a group, research analysts forecast that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Cantor Fitzgerald cut their price objective on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reduced their price target on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Craig Hallum initiated coverage on Core Scientific in a report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price objective on the stock. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a research note on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price for the company. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Wednesday, March 12th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $19.07.

Core Scientific Profile

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.