Arizona State Retirement System Makes New Investment in TeraWulf Inc. (NASDAQ:WULF)

Arizona State Retirement System acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 63,472 shares of the company’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of WULF. ARS Investment Partners LLC bought a new stake in shares of TeraWulf in the 2nd quarter valued at approximately $44,000. Miracle Mile Advisors LLC bought a new stake in shares of TeraWulf in the 1st quarter valued at approximately $29,000. Partners Capital Investment Group LLP bought a new stake in shares of TeraWulf in the 4th quarter valued at approximately $29,000. Financial Advocates Investment Management bought a new stake in shares of TeraWulf in the 4th quarter valued at approximately $39,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of TeraWulf in the 2nd quarter valued at approximately $101,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Trading Up 3.2 %

Shares of WULF stock opened at $4.07 on Wednesday. TeraWulf Inc. has a 1 year low of $0.89 and a 1 year high of $6.51. The stock has a fifty day moving average of $4.41 and a two-hundred day moving average of $3.35.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and issued a $6.00 price target on shares of TeraWulf in a report on Monday, August 26th. Needham & Company LLC assumed coverage on TeraWulf in a research report on Wednesday, September 4th. They set a “buy” rating and a $6.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a research report on Tuesday, September 3rd. Rosenblatt Securities boosted their price objective on TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Roth Mkm restated a “buy” rating and set a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average 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.