Hollencrest Capital Management Purchases New Position in TeraWulf Inc. (NASDAQ:WULF)

Hollencrest Capital Management purchased a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 59,593 shares of the company’s stock, valued at approximately $265,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in TeraWulf by 17.7% during the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after purchasing an additional 1,764,115 shares in the last quarter. SG Americas Securities LLC increased its position in shares of TeraWulf by 260.8% during the 2nd quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after purchasing an additional 139,722 shares during the last quarter. Bank of New York Mellon Corp lifted its position in TeraWulf by 97.8% in the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after buying an additional 417,369 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in TeraWulf in the 2nd quarter worth about $1,095,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of TeraWulf by 20.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 457,175 shares of the company’s stock valued at $2,034,000 after buying an additional 76,714 shares during the last quarter. Institutional investors own 62.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. B. Riley restated a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a report on Monday, August 26th. Needham & Company LLC started coverage on shares of TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target on the stock. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Roth Mkm restated a “buy” rating and issued a $6.50 target price on shares of TeraWulf in a research note on Monday, July 8th. Finally, Rosenblatt Securities lifted their price target on shares of TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Eight 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, the company presently has an average rating of “Buy” and a consensus target price of $5.71.

TeraWulf Stock Performance

NASDAQ:WULF opened at $4.46 on Friday. The firm has a 50-day simple moving average of $4.39 and a 200-day simple moving average of $3.35. TeraWulf Inc. has a one year low of $0.89 and a one year high of $6.51.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. The business had revenue of $35.57 million for the quarter, compared to analysts’ expectations of $35.73 million. On average, research analysts forecast that TeraWulf Inc. will post -0.11 earnings per share for the current year.

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.