Hood River Capital Management LLC Makes New Investment in TeraWulf Inc. (NASDAQ:WULF)

Hood River Capital Management LLC bought a new stake in TeraWulf Inc. (NASDAQ:WULF) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,613,919 shares of the company’s stock, valued at approximately $20,532,000. Hood River Capital Management LLC owned about 1.38% of TeraWulf as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in WULF. Amalgamated Bank raised its stake in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares during the last quarter. ARS Investment Partners LLC purchased a new stake in shares of TeraWulf during the second quarter worth approximately $44,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of TeraWulf during the second quarter worth approximately $44,000. Miracle Mile Advisors LLC acquired a new stake in shares of TeraWulf during the first quarter worth $29,000. Finally, Partners Capital Investment Group LLP purchased a new position in TeraWulf in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Stock Up 0.9 %

NASDAQ WULF opened at $4.50 on Monday. The business has a 50 day moving average price of $4.37 and a 200 day moving average price of $3.39. TeraWulf Inc. has a 1-year low of $0.89 and a 1-year high of $6.51.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WULF. B. Riley restated a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research note on Monday, August 26th. Roth Capital raised TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Roth Mkm reissued a “buy” rating and set a $6.50 target price on shares of TeraWulf in a research note on Monday, July 8th. Needham & Company LLC assumed coverage on TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Rosenblatt Securities upped their price objective on TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $5.71.

TeraWulf Company Profile

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.