Miracle Mile Advisors LLC Purchases Shares of 10,985 TeraWulf Inc. (NASDAQ:WULF)

Miracle Mile Advisors LLC bought a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,985 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds also recently modified their holdings of WULF. Apollon Wealth Management LLC acquired a new stake in shares of TeraWulf during the 4th quarter worth about $27,000. Partners Capital Investment Group LLP acquired a new stake in shares of TeraWulf during the 4th quarter worth about $29,000. Global Retirement Partners LLC acquired a new stake in shares of TeraWulf during the 4th quarter worth about $30,000. Regatta Capital Group LLC acquired a new stake in shares of TeraWulf during the 4th quarter worth about $31,000. Finally, HBW Advisory Services LLC acquired a new stake in shares of TeraWulf during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on WULF shares. Rosenblatt Securities assumed coverage on shares of TeraWulf in a research note on Tuesday, April 9th. They set a “buy” rating and a $4.20 target price for the company. Roth Mkm assumed coverage on shares of TeraWulf in a research note on Tuesday. They issued a “buy” rating and a $6.50 price objective for the company. Cantor Fitzgerald lifted their price objective on shares of TeraWulf from $7.00 to $9.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. B. Riley lifted their price objective on shares of TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Compass Point dropped their price objective on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research note on Thursday, March 21st. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TeraWulf has an average rating of “Buy” and a consensus target price of $5.21.

TeraWulf Price Performance

WULF stock opened at $5.05 on Wednesday. TeraWulf Inc. has a 12 month low of $0.89 and a 12 month high of $5.34. The company’s 50-day moving average price is $2.97 and its two-hundred day moving average price is $2.39.

TeraWulf (NASDAQ:WULF) last released its earnings results on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. The firm had revenue of $42.43 million during the quarter, compared to the consensus estimate of $41.86 million. On average, sell-side analysts expect that TeraWulf Inc. will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $3.25, for a total value of $227,487.00. Following the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 24.88% of the company’s stock.

About TeraWulf

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.