Principal Financial Group Inc. Sells 9,308 Shares of TeraWulf Inc. (NASDAQ:WULF)

Principal Financial Group Inc. cut its holdings in TeraWulf Inc. (NASDAQ:WULF) by 30.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,221 shares of the company’s stock after selling 9,308 shares during the period. Principal Financial Group Inc.’s holdings in TeraWulf were worth $99,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of TeraWulf by 12.9% in the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after buying an additional 820,354 shares in the last quarter. State Street Corp lifted its stake in TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after purchasing an additional 227,186 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in TeraWulf in the 2nd quarter worth $22,443,000. Hood River Capital Management LLC bought a new position in shares of TeraWulf during the 2nd quarter valued at about $20,532,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Stock Performance

NASDAQ WULF opened at $6.13 on Wednesday. TeraWulf Inc. has a 12 month low of $1.24 and a 12 month high of $9.30. The company’s 50-day moving average price is $6.97 and its 200-day moving average price is $5.48.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a report on Monday. Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a report on Sunday. Rosenblatt Securities restated a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Thursday, December 5th. B. Riley increased their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $8.64.

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.