Vontobel Holding Ltd. Sells 61,553 Shares of TeraWulf Inc. (NASDAQ:WULF)

Vontobel Holding Ltd. reduced its holdings in shares of TeraWulf Inc. (NASDAQ:WULF) by 60.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,612 shares of the company’s stock after selling 61,553 shares during the quarter. Vontobel Holding Ltd.’s holdings in TeraWulf were worth $190,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of TeraWulf during the 2nd quarter valued at approximately $22,443,000. Hood River Capital Management LLC acquired a new position in shares of TeraWulf during the second quarter worth $20,532,000. Van ECK Associates Corp increased its holdings 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 worth $17,708,000 after buying an additional 2,268,870 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of TeraWulf in the 2nd quarter valued at $9,948,000. Finally, Duquesne Family Office LLC acquired a new stake in shares of TeraWulf during the 2nd quarter valued at $9,301,000. Institutional investors own 62.49% of the company’s stock.

TeraWulf Price Performance

Shares of WULF opened at $6.40 on Thursday. TeraWulf Inc. has a 52-week low of $0.89 and a 52-week high of $6.58. The business’s 50 day moving average price is $4.48 and its two-hundred day moving average price is $3.80.

TeraWulf (NASDAQ:WULF) last released its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $35.57 million for 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%. As a group, research analysts forecast that TeraWulf Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stifel Canada upgraded TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, October 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of TeraWulf in a research note on Thursday, October 3rd. Needham & Company LLC began coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective on the stock. B. Riley reaffirmed a “buy” rating and set a $6.00 target price on shares of TeraWulf in a report on Monday, October 7th. Finally, Roth Capital raised TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.