Rhumbline Advisers Grows Stock Position in TeraWulf Inc. (NASDAQ:WULF)

Rhumbline Advisers raised its holdings in TeraWulf Inc. (NASDAQ:WULF) by 66.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 299,545 shares of the company’s stock after buying an additional 119,911 shares during the quarter. Rhumbline Advisers owned about 0.09% of TeraWulf worth $1,333,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after buying an additional 1,764,115 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of TeraWulf by 50.8% in the first quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock worth $17,708,000 after purchasing an additional 2,268,870 shares during the last quarter. GM Advisory Group LLC raised its stake in shares of TeraWulf by 3.3% in the fourth quarter. GM Advisory Group LLC now owns 1,237,912 shares of the company’s stock worth $2,971,000 after purchasing an additional 39,617 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of TeraWulf by 97.8% in the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after purchasing an additional 417,369 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of TeraWulf in the fourth quarter worth about $1,200,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Price Performance

Shares of WULF opened at $4.50 on Friday. TeraWulf Inc. has a 12 month low of $0.89 and a 12 month high of $6.51. The stock’s 50 day moving average is $4.37 and its two-hundred day moving average is $3.39.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $35.73 million. On average, analysts forecast that TeraWulf Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WULF has been the subject of several research analyst reports. Rosenblatt Securities raised their price objective on TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Needham & Company LLC began coverage on TeraWulf in a research report on Wednesday, September 4th. They set a “buy” rating and a $6.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of TeraWulf in a research report on Tuesday, September 3rd. Roth Mkm reiterated a “buy” rating and set a $6.50 price target on shares of TeraWulf in a research report 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, August 26th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TeraWulf has an average rating of “Buy” and an average price target of $5.71.

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.