Cubist Systematic Strategies LLC Sells 98,365 Shares of TeraWulf Inc. (NASDAQ:WULF)

Cubist Systematic Strategies LLC cut its stake in TeraWulf Inc. (NASDAQ:WULF) by 26.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 280,336 shares of the company’s stock after selling 98,365 shares during the period. Cubist Systematic Strategies LLC owned about 0.08% of TeraWulf worth $1,247,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WULF. Amalgamated Bank increased its position in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the period. ARS Investment Partners LLC purchased a new position in TeraWulf during the 2nd quarter valued at about $44,000. Pekin Hardy Strauss Inc. purchased a new position in TeraWulf during the 2nd quarter valued at about $44,000. Miracle Mile Advisors LLC purchased a new position in TeraWulf during the 1st quarter valued at about $29,000. Finally, Xponance Inc. purchased a new position in TeraWulf during the 2nd quarter valued at about $65,000. 62.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WULF shares. Rosenblatt Securities raised their target price on shares of TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. B. Riley restated 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 shares of TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a report on Tuesday, September 3rd. Finally, Roth Mkm restated a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a report on Monday, July 8th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $5.71.

TeraWulf Trading Down 7.5 %

WULF stock opened at $4.33 on Wednesday. The firm has a 50 day moving average of $4.25 and a 200 day moving average of $3.55. TeraWulf Inc. has a 52 week low of $0.89 and a 52 week high of $6.51.

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

TeraWulf 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.