Legato Capital Management LLC Grows Position in Core Scientific, Inc. (NASDAQ:CORZ)

Legato Capital Management LLC raised its position in Core Scientific, Inc. (NASDAQ:CORZ) by 51.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,497 shares of the company’s stock after purchasing an additional 40,493 shares during the quarter. Legato Capital Management LLC’s holdings in Core Scientific were worth $1,665,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Core Scientific during the 4th quarter valued at about $42,000. KBC Group NV purchased a new stake in shares of Core Scientific during the 4th quarter valued at about $114,000. Duncan Williams Asset Management LLC purchased a new stake in shares of Core Scientific during the 4th quarter valued at about $141,000. Arkadios Wealth Advisors purchased a new stake in shares of Core Scientific during the 3rd quarter valued at about $119,000. Finally, OLD National Bancorp IN purchased a new stake in shares of Core Scientific during the 3rd quarter valued at about $164,000.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the completion of the transaction, the insider now owns 1,661,474 shares in the company, valued at $28,411,205.40. The trade was a 1.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,258,531.20. Following the transaction, the chief executive officer now owns 4,128,505 shares of the company’s stock, valued at $58,789,911.20. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 744,032 shares of company stock worth $11,863,966. 32.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CORZ has been the topic of several analyst reports. Roth Mkm initiated coverage on Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 target price on the stock. BTIG Research raised their target price on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 16th. Macquarie lifted their price objective on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Canaccord Genuity Group restated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a report on Thursday, November 7th. Finally, HC Wainwright lifted their price objective on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Core Scientific currently has an average rating of “Buy” and a consensus price target of $19.07.

Core Scientific Trading Down 4.4 %

Shares of CORZ opened at $12.26 on Wednesday. The stock has a 50 day moving average of $14.44 and a 200-day moving average of $13.13. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63.

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.