SG Americas Securities LLC Cuts Stake in TeraWulf Inc. (NASDAQ:WULF)

SG Americas Securities LLC lessened its holdings in TeraWulf Inc. (NASDAQ:WULF) by 58.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,899 shares of the company’s stock after selling 112,405 shares during the quarter. SG Americas Securities LLC’s holdings in TeraWulf were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new position in shares of TeraWulf in the second quarter worth $22,443,000. Hood River Capital Management LLC purchased a new position in shares of TeraWulf in the second quarter valued at about $20,532,000. Van ECK Associates Corp raised its stake in shares of TeraWulf by 50.8% during the first quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock valued at $17,708,000 after acquiring an additional 2,268,870 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of TeraWulf during the second quarter worth about $9,948,000. Finally, Duquesne Family Office LLC purchased a new stake in shares of TeraWulf during the second quarter worth about $9,301,000. 62.49% of the stock is owned by institutional investors.

TeraWulf Stock Up 3.4 %

WULF stock opened at $5.24 on Friday. The business has a 50 day moving average of $4.36 and a 200 day moving average of $3.73. TeraWulf Inc. has a twelve month low of $0.89 and a twelve month high of $6.51.

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

Analysts Set New Price Targets

WULF has been the subject of several research analyst reports. Roth Capital upgraded TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Stifel Canada upgraded shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, October 4th. Needham & Company LLC assumed coverage on shares of TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective for the company. Roth Mkm reaffirmed a “buy” rating and set a $6.50 target price on shares of TeraWulf in a research note on Monday, July 8th. Finally, B. Riley reiterated a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research report on Monday, October 7th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $6.17.

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.