Algert Global LLC Buys Shares of 22,844 TeraWulf Inc. (NASDAQ:WULF)

Algert Global LLC purchased a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,844 shares of the company’s stock, valued at approximately $102,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WULF. Driehaus Capital Management LLC purchased a new position in TeraWulf during the second quarter worth about $9,948,000. Scientech Research LLC acquired a new position in shares of TeraWulf in the 2nd quarter worth approximately $1,040,000. The Manufacturers Life Insurance Company boosted its position in shares of TeraWulf by 60.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,319 shares of the company’s stock worth $389,000 after purchasing an additional 33,058 shares during the period. Duquesne Family Office LLC acquired a new stake in TeraWulf in the 2nd quarter valued at approximately $9,301,000. Finally, AQR Capital Management LLC raised its position in TeraWulf by 192.3% in the second quarter. AQR Capital Management LLC now owns 244,816 shares of the company’s stock valued at $1,089,000 after purchasing an additional 161,061 shares during the period. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Stock Up 7.1 %

Shares of NASDAQ:WULF opened at $4.21 on Friday. TeraWulf Inc. has a fifty-two week low of $0.89 and a fifty-two week high of $6.51. The firm’s 50 day moving average price is $4.24 and its 200 day moving average price is $3.64.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $35.57 million during the quarter, compared to analysts’ expectations of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. Analysts expect that TeraWulf Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Roth Mkm reaffirmed a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a research note on Monday, July 8th. Needham & Company LLC began coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They set a “buy” rating and a $6.00 price target on the stock. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. Rosenblatt Securities restated a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a report on Tuesday. Finally, B. Riley reiterated a “buy” rating and set a $6.00 target price on shares of TeraWulf in a report on Monday, October 7th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $5.71.

TeraWulf 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.